The Commercial Taxes Department in Hyderabad uncovered GST fraud involving fake e-way bills and empty vehicles. Fraudsters used immobilized cars and staged photos to evade tax. FIRs expected.
Karnataka issues GST notices to 7,000 unregistered vendors based on UPI data. No tax demand yet, but vendors must register or prove exemption. CM Siddaramaiah promises relief.
ICAI announces suspension of Self-Paced Online Module Tests from August 11 to 20, 2025, due to portal maintenance. Slot booking to resume from August 21.
The Ministry of Finance has notified new recruitment rules for Senior Accountants under the Central Civil Accounts Service, detailing promotion criteria, pay scale, eligibility, and probation period. Effective August 1, 2025.
Finance Ministry reveals that out of 5,892 money laundering cases probed by ED since January 2015, only 8 convictions have been secured. The data was shared in response to a Rajya Sabha query by TMC MP Saket Gokhale.
The Finance Ministry has notified a concessional 0.1% guarantee fee for NaBFID’s foreign borrowings, aiming to support its long-term infrastructure financing goals. Notification follows global credit ratings from Moody’s and Fitch.
The Institute of Company Secretaries of India (ICSI) urges the government to recognise CS professionals as accountants and calls for a comprehensive overhaul of taxation laws
The CGST & Central Excise Raigad Commissionerate arrested two individuals for fraudulently availing Rs 9 crore Input Tax Credit using shell firms in New Panvel, Mumbai Zone. The probe continues to trace other beneficiaries.
RBI reports that RS 2000 banknotes in circulation have declined from Rs 3.56 lakh crore to Rs 6,017 crore as of July 31, 2025 marking a 98.31% return rate. Rs 2000 notes remain legal tender.
India's gross GST revenue for July 2025 surged 7.5% YoY to Rs 1.96 lakh crore, driven by strong growth in IGST and SGST. Net revenue after refunds stood at Rs 1.68 lakh crore. Check state-wise performance and key highlights.
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