CAclubindia News

Parliamentary Panel Urges Finance Ministry to Expedite GSTAT Bench Appointments Across India

07 August 2025 at 09:06

A parliamentary panel has urged the Finance Ministry to adopt a time-bound plan to operationalise GSTAT benches nationwide, citing delays in member appointments and their impact on GST dispute resolution.

Posted in GST | 177 Views

Parliamentary Panel Criticizes IT Dept for Not Segregating Business and Individual Income Under PIT

07 August 2025 at 09:03

A parliamentary panel has criticised the Income Tax Department for refusing to segregate business and individual income under PIT, calling for a clear action plan to improve tax transparency and policy formulation.

Posted in Income Tax | 1686 Views

Income Tax Bill 2025: No Exemption for Fast-Track Demergers, Startups May Suffer

07 August 2025 at 08:57

Experts have criticised the Income-Tax Bill, 2025 for excluding fast-track demergers from tax-neutral treatment, warning that it contradicts ease of doing business and increases tax burden on startups and MSMEs.

Posted in Income Tax | 2337 Views

Income Tax Department Detects Rs 30,444 Crore Undisclosed Income in FY25 Through 465 Surveys

07 August 2025 at 08:53

In FY25, the Income Tax Department detected Rs 30,444 crore in undisclosed income through 465 surveys, Parliament was informed. Seizures and search operations also yielded assets worth over Rs 2,500 crore.

Posted in Income Tax | 2967 Views

Over 91,000 GST Evasion & 44,000 ITC Fraud Cases Detected in 5 Years, Says Finance Ministry

06 August 2025 at 09:17

The Finance Ministry informed Lok Sabha that while GST collections have largely met targets from FY21 to FY25, tax evasion cases surged to over 91,000, with Rs 7.08 lakh crore detected. Measures like e-invoicing and Project Anveshan aim to curb fraud.

Posted in GST | 1740 Views

GST on LIC Premiums: No Reduction Yet, GoM Seeks More Time

06 August 2025 at 09:03

The Government is reviewing GST on LIC premiums, with no final decision yet. A Group of Ministers is evaluating the matter and their upcoming report may lead to possible tax relief for life insurance policyholders.

Posted in GST | 1686 Views

GST Council may Offer Amnesty to Small Vendors Flagged via UPI Data: Tax Commissioner

06 August 2025 at 08:50

GST Council may grant amnesty from interest and penalties to small vendors flagged through UPI data, says Central Tax Commissioner Kotraswamy M.

Posted in GST | 1842 Views

Centre Appoints 31 Technical and 52 Judicial Members to GSTAT Across India

06 August 2025 at 08:41

Govt of India appoints 83 members to GST Appellate Tribunal, aiming to fast-track GST dispute resolution and enhance judicial and technical expertise.

Posted in GST | 2226 Views

ICAI Signs MoU with IAGES to Strengthen Accreditation in the Gold Industry

06 August 2025 at 08:32

The Institute of Chartered Accountants of India (ICAI) has inked an MoU with and Indian Association of Gold Excellence and Standards (IAGES) to implement a robust accreditation framework for value chain partners in the gold industry

Posted in Professional Resource | 1 comments | 219 Views

Nagpur Trader Arrested for Rs 33.93 Crore Fake ITC Scam Under MGST Act

05 August 2025 at 09:07

Maharashtra GST Dept. arrests Nagpur trader Mahesh Keshwani for availing Rs 33.93 crore fake ITC using bogus invoices from cancelled GST registrations. Judicial custody till Aug 14.

Posted in GST | 636 Views