CAclubindia News
Fake E-Way Bills Generated Using Empty Vehicles in Hyderabad
04 August 2025 at 09:04The 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.
GST Notices sent to 7000 Unregistered Vendors in Karnataka based on UPI Transaction Data
04 August 2025 at 08:54Karnataka 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 Halts SPOM Tests from 11th to 20th August 2025 for Software Upgradation
04 August 2025 at 08:39ICAI 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.
Finance Ministry Notifies Revised Recruitment Rules for Senior Accountants under Central Civil Accounts Service
02 August 2025 at 09:27The 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: Only 8 PMLA Cases Convicted Out of 5,892 ED Investigations
02 August 2025 at 09:19Finance 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.
Finance Ministry Notifies 0.1% Concessional Guarantee Fee for NaBFID
02 August 2025 at 09:13The 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.
ICSI Calls for Recognition of Company Secretaries as 'Accountants' Under Income Tax Bill
02 August 2025 at 09:05The 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
GST Fraud: Rs 9 Crore Fake ITC Racket Busted in Mumbai Zone
02 August 2025 at 08:55The 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 Says 98.31% of Rs 2000 Notes Returned to Banks as of July 31, 2025
02 August 2025 at 08:50RBI 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.
GST Collection Hits Rs 1.96 Lakh Crore in July 2025, Rises 7.5% YoY
02 August 2025 at 08:44India'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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