CAclubindia News
GST Team Monitors Horse Sales at Pushkar Fair as 5% Tax Applies for the First Time on Transactions Above Rs 40 Lakh
07 November 2025 at 06:32For the first time, GST officials monitored horse sales at Rajasthan's Pushkar Fair, applying 5% GST on transactions above Rs 40 lakh. Authorities said no horse has sold beyond Rs 10 lakh despite viral social media claims.
Major Relief for Aishwarya Rai Bachchan: ITAT Deletes Rs 4 Crore Section 14A Tax Disallowance
07 November 2025 at 06:32Aishwarya Rai Bachchan wins Rs 4 crore income tax case at ITAT Mumbai as the tribunal rules in her favour on Section 14A disallowance. The judgment clarifies how tax officers must record satisfaction before applying Rule 8D on exempt income expenses.
Two Women Booked for Rs 2.56 Crore GST Evasion by Creating Fake Firm in Lucknow
07 November 2025 at 06:32Two women traders in Lucknow have been booked for evading Rs 2.56 crore in GST by creating a fake firm, Gorupan Enterprises. The State Tax Department discovered the firm's address and contact details to be bogus.
ICAI Proposes Optional Joint Taxation for Married Couples in Pre-Budget 2026-27 Suggestions
07 November 2025 at 06:32ICAI, in its Pre-Budget 2026-27 suggestions, has proposed optional joint taxation for married couples to promote fairness and family welfare.
20 States Report Dip in GST Collections in October Amid Transition to GST 2.0 Rate Structure
06 November 2025 at 06:46GST collections slowed to 4.6% in October as 20 states saw declines, reflecting transition effects from the new GST 2.0 rate reform introduced in September.
FM Sitharaman Announces Next-Gen Customs Reforms, Reaffirms Fiscal Discipline and Growth Vision
06 November 2025 at 06:46Finance Minister Nirmala Sitharaman unveils plans for next-generation customs reforms, fiscal stability and India's roadmap to becoming a top global economy.
CBIC Clarifies GST Registration Requirement for Importers Storing Goods in Warehouses Outside Their Home State
06 November 2025 at 06:46CBIC clarifies that businesses storing goods in warehouses located in other States must obtain separate GST registration. The clarification outlines GST liability, invoicing, place of supply and compliance requirements under the CGST and IGST Acts.
CBDT Grants Income Tax Exemption to Karnataka Housing Board Under Section 10(46A)
06 November 2025 at 06:46CBDT grants income tax exemption to Karnataka Housing Board under Section 10(46A) of the Income Tax Act, effective from AY 2024-25. The notification ensures no adverse impact from its retrospective application.
Income Tax Department Withdraws Long-Pending Rs 8500 Crore Transfer Pricing Case Against Vodafone India
05 November 2025 at 09:39The Income Tax Department has withdrawn its Rs 8,500 crore transfer pricing case against Vodafone India Services Pvt. Ltd., ending a decade-long dispute linked to a 2008 business restructuring.
CAT Cuttack Imposes Rs 20,000 Cost on CBIC Officer for Non-Compliance in Suspension Case
05 November 2025 at 06:30CAT, Cuttack, has imposed a Rs 20,000 cost on a CBIC officer for non-compliance in the suspension case of Deepak Niranjan Nath Pandit, directing submission of a full compliance report or personal appearance on December 11, 2025.
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