The GCCI has urged FM Sitharaman to simplify GST by merging slabs, correcting inverted duty structures, reducing rates on essentials, and publishing sector-specific guidance notes to ease compliance and boost tax transparency.
CBDT is drafting simplified rules and forms under the Income Tax Act, 2025, set to apply from April 1, 2026. A new SOP for digital data handling during surveys and searches will also be released, alongside the introduction of the 'tax year' concept.
ICAI has published the 2025 edition of its Handbook on Exempted Supplies under GST, covering latest amendments till April 15, 2025.
Food Ministry backs edible oil industry's demand to lift GST refund restrictions. GST Council may discuss the issue in its next meeting.
CBDT Member R.N. Parbat says digital search and seizure under Income Tax Act 2025 is vital to trace hidden income and assets online.
High GST is hurting multiplex recovery. Exhibitors propose 5% GST on tickets under Rs 300 to drive affordability and cinema screen expansion.
Amid concerns over slowing wage growth, the Finance Ministry plans regular meetings with MSMEs and industry leaders to help firms scale, boost hiring and support consumption.
The Karnataka Commercial Taxes Department has arrested Bidar resident Rahul Kishan Rao Kulkarni in Hyderabad for creating fake GST registrations and issuing bogus invoices worth crores to facilitate fraudulent ITC claims.
The Finance Ministry has set up a Forum for Regulatory Coordination and Development of Pension Products to harmonize regulations, strengthen consumer protection and boost India’s pension market.
ICAI held convocation ceremonies across 15 centers in India, conferring membership to 13,737 newly qualified Chartered Accountants. The event celebrated the achievements of new CAs, marking a significant milestone in their professional journey.
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