CAclubindia News

GoM Endorses GST Reform: Proposal to Cut Slabs from 4 to 2 Moves Forward

25 August 2025 at 08:42

GoM backs Centre’s proposal to simplify GST slabs from four to two, retaining 5% and 18% with a special 40% slab for luxury goods. States seek clarity on revenue loss before GST Council’s final call

Posted in GST | 267 Views

Chartered Accountant arrested by ED in Rs 792 Crore Falcon Invoice Discounting Scam

25 August 2025 at 08:36

ED Hyderabad arrests CA Sharad Chandra Toshniwal in the Rs 792 crore Falcon invoice discounting scam for allegedly laundering funds. Probe reveals fake investment scheme, diversion of money and concealment of illicit assets

Posted in Community & General | 2538 Views

GST Rate Cuts to Cost Exchequer Rs 1.43 Lakh Crore, US Tariffs Threaten Growth

23 August 2025 at 09:37

HSBC warns that GST rate revisions could cost India Rs 1.43 lakh crore, while US tariffs of 25-50% may lower GDP growth by up to 70 basis points. States face fiscal strain under FRBM limits.

Posted in GST | 384 Views

GST Exemption on Health, Life Insurance Proposed; Experts Flag ITC Concerns

23 August 2025 at 09:28

GoM proposes GST exemption on health & life insurance premiums. Experts warn of input tax credit challenges; final call with GST Council.

Posted in GST | 1398 Views

GST Burden on Private Security Firms Unjust, Says CAPSI in Letter to PM Modi

23 August 2025 at 09:17

CAPSI urges PM Modi to review 18% GST on private security services, citing RCM disparity that impacts MSMEs and over 8.5 million workers.

Posted in GST | 1095 Views

56th GST Council Meeting Scheduled for 3rd to 4th September 2025

23 August 2025 at 09:06

GST Council to hold its 56th meeting on Sept 3-4, 2025, in New Delhi. Key tax policy discussions expected; agenda details to follow.

Posted in GST | 972 Views

GoM Backs Two-Slab GST Structure, Proposes 40% Rate on Luxury and Sin Goods

23 August 2025 at 08:53

GoM accepts Centre's proposal for two GST slabs of 5% and 18%, with a new 40% rate on luxury and sin goods; states seek extra cess to protect revenue.

Posted in GST | 1377 Views

GST Rate Cut Proposal Raises Centre-State Tensions Over Revenue

23 August 2025 at 08:47

PM Modi's plan to cut GST rates may cost states Rs 1.8 lakh crore annually, sparking fiscal tensions ahead of Diwali and Bihar elections.

Posted in GST | 1530 Views

GST Fraud Worth Rs 47.32 Crore Unearthed in Thane

23 August 2025 at 08:47

Thane GST officials arrest man in Rs 47.32 crore ITC fraud; incriminating evidence seized, probe underway to identify more suspects.

Posted in GST | 117 Views

President Gives Assent to The Income Tax Bill 2025 and The Taxation Laws (Amendment) Bill 2025

22 August 2025 at 09:26

The President has given assent to the Income Tax Bill 2025 and the Taxation Laws (Amendment) Bill 2025, marking a major step in India's direct tax reforms aimed at simplifying compliance and strengthening tax administration.

Posted in Income Tax | 3774 Views