CAclubindia News

No Proposal to Impose Fees on UPI: Finance Ministry Reaffirms in Lok Sabha

20 August 2025 at 09:10

The Finance Ministry told Parliament there is no proposal to impose fees on UPI transactions, easing concerns after RBI Governor Sanjay Malhotra's comments sparked speculation about charges on UPI transactions.

Posted in Community & General | 1263 Views

Income Tax Department Recovers Rs 3,588 Crore, But 59,352 Audit Cases Remain Unsettled: CAG

20 August 2025 at 09:05

CAG reports that the income tax department recovered Rs 3,588.79 crore after rectifying audit-flagged errors but left 59,352 cases unsettled, with pending tax effects of Rs 6,252.06 crore.

Posted in Income Tax | 2376 Views

Commerce Ministry Prepares 100-Day Reforms Agenda to Boost FDI, Startups and Exports

20 August 2025 at 08:59

The commerce and industry ministry is drafting a 100-day reforms agenda that may include liberalising FDI rules, easing investments from neighbouring countries, tax benefits for startups, relaxed environmental norms

Posted in Corporate Law | 255 Views

New Income Tax Bill, 2025: Major Corporate Tax Reforms to Simplify Compliance and Boost Certainty

20 August 2025 at 08:56

The New IT Bill, 2025, simplifies corporate taxation by addressing dividend double taxation, clarifying AMT rules for LLPs, restoring inter-corporate dividend deductions, and refining ‘beneficial ownership’ provisions to reduce litigation

Posted in Income Tax | 5025 Views

GST Registration to Be Cleared in Just 3 Days, Refunds to Be Automated Under Upcoming Reforms

19 August 2025 at 09:24

Businesses will soon get GST registration within 3 days, with 95% of applications cleared in the new timeframe. Automated refunds for ITC and inverted duty structures will further ease compliance and improve cash flows.

Posted in GST | 1 comments | 10578 Views

GST Fraud: Ambika Steel Partner Arrested in Hyderabad for Bogus ITC Claims

19 August 2025 at 09:17

CCS Hyderabad police arrested the Managing Partner of Ambika Steel for alleged GST fraud involving fake invoices and e-way bills. Vehicle numbers were misused to claim ITC without moving goods.

Posted in GST | 954 Views

GST Reforms: Sin Goods to Stay Costly, Relief Likely for Man-Made Fabrics

19 August 2025 at 09:12

While sin goods like cigarettes and gutka will remain under high tax slabs, the Centre is considering lowering GST on man-made fabrics from 12% to 5% to boost the textile sector.

Posted in GST | 3126 Views

CBI Arrests Mumbai Customs Officer in Rs 10.2 Lakh Bribery Case

19 August 2025 at 09:04

The CBI has arrested a Superintendent of Customs posted at Mumbai's Air Cargo Complex, Sahar, for demanding and accepting a Rs 10.2 lakh bribe from a Customs House Agent to clear consignments.

Posted in Custom | 480 Views

GST on Automobiles Set for Major Restructuring in Upcoming Reforms

19 August 2025 at 09:00

The Centre plans sweeping GST reforms, restructuring automobile taxes from the current 28% plus cess to a simplified two-slab system. The move aims to resolve classification disputes and make cars more affordable for consumers.

Posted in GST | 1848 Views

ICAI & ZEE Business Launch 'CA Business Leader 40 Under 40' Awards to Honour Young Chartered Accountants

19 August 2025 at 08:51

The Institute of Chartered Accountants of India (ICAI), in association with ZEE Business, announces the CA Business Leader 40 Under 40 Awards to recognize young Chartered Accountants

Posted in Professional Resource | 8415 Views