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Updated 25 June 2025 at 18:16 IST

From PAN to GST: What Financial Changes to Come Into Effect from July 1, 2025

The new quarter you will witness new rules that could impact how you file taxes, use your credit card, or invest.

Reported by: Avishek Banerjee
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A new financial quarter often brings a fresh set of rules and reforms — and this July will be no exception. The new quarter will witness new rules that could impact how you file taxes, use your credit card, or invest.
Here’s a lowdown on some of the prominent money-related changes taking effect from July 1, 2025.

New PAN Cards Need Aadhaar

If you are planning to apply for a new PAN card, you have to verify it using your Aadhaar number. This move aims to expedite your verification and curb duplicate PAN cards.

GST Return Filing Gets Locked

From July onwards, once you submit your GSTR-3B form while filing your returns, you won’t be able to revise it. Any changes must be made through a new form—GSTR-1A. This change boosts accuracy but leaves scope for error, especially for small businesses.

Also Read: What’s New for Your Wallet: Key Financial Changes from July 1, 2025 | Republic World

HDFC Credit Card Charges

From next month onwards, HDFC Bank will charge a 1% fee on credit card spending over Rs 10,000 per month for a) online gaming and b) digital wallet top-ups. Moreover, no reward points will be offered for these transactions. The private bank stated that utility and rent payments may also see reduced rewards.

SME IPO Investment to Get Seamless

The National Stock Exchange (NSE) is updating bidding rules for SME IPOs to make them simpler and more transparent for retail investors.

Access to Derivatives for NRIs

The RBI has come out with a proposal which may allow foreign investors to trade in rupee-based interest rate derivatives. While still in the draft stage, it could soon become a reality, expanding India’s financial markets.

Other Key Changes


There are other changes which were earlier announced by the FM, which are as follows:

  • New tax slabs under the optional regime offer zero tax up to Rs 12 lakh (with deductions).
  • TDS on rent now applies only above Rs 6 lakh per year.
  • TCS on foreign remittances kicks in after Rs 10 lakh per year.

Published 25 June 2025 at 18:16 IST