CAclubindia News

CA Arrested in Rs 7.85 Crore GST ITC Fraud, 80 Fake GSTINs Unearthed

09 May 2025 at 08:45

In a major crackdown on GST fraud, the Central GST Delhi South Commissionerate has arrested a South Delhi-based Chartered Accountant for orchestrating a massive Rs 7.85 crore Input Tax Credit (ITC) scam involving circular trading and fake firms.

Posted in GST | 1 comments | 5715 Views

ICAI Postpones CA May 2025 Exams Amid Security Concerns

09 May 2025 at 06:10

The Institute of Chartered Accountants of India (ICAI) has officially announced the postponement of the remaining papers of the CA Final, Intermediate, and Post Qualification Course Examinations, originally scheduled from May 9 to May 14, 2025.

Posted in Students | 13515 Views

GSTN Simplifies Refund Filing Process for Exporters, SEZ Suppliers and Deemed Exporters

09 May 2025 at 08:33

GSTN has revamped the refund filing process under three major categories - Export of Services with payment of tax, Supplies made to SEZ Unit/SEZ Developer with payment of tax, and Refund by Supplier of Deemed Export.

Posted in GST | 3285 Views

CBDT Tightens Scrutiny of Top Advance Tax Payers to Curb Bogus Exemption Claims in FY 2025-26

08 May 2025 at 09:05

CBDT has instructed income-tax officials across the country to intensify monitoring of top advance tax payers, including both individuals and corporates, for bogus claims of exemptions and deductions.

Posted in Income Tax | 3879 Views

ICAI Celebrates Accounting Standards Day to Highlight Role of Standards in preparation of Financial Statements

08 May 2025 at 09:05

The Institute of Chartered Accountants of India (ICAI), celebrated Accounting Standards Day (AS Day) on theme Navigating the Financial Reporting Landscape.

Posted in Accounts | 615 Views

CBDT Notifies Revised ITR-V and Acknowledgement Forms for AY 2025-26

08 May 2025 at 09:04

The Central Board of Direct Taxes (CBDT), under the Ministry of Finance, has notified the Income-tax (Seventeenth Amendment) Rules, 2025 via Notification No. 45/2025 dated May 7, 2025.

Posted in Income Tax | 3 comments | 7512 Views

CBDT Notifies New ITR-6 Form for AY 2025-26

07 May 2025 at 17:31

In a significant move aimed at streamlining corporate tax filings, the Central Board of Direct Taxes (CBDT) has notified the amended ITR-6 form applicable for companies for the Assessment Year (AY) 2025-26.

Posted in Income Tax | 2382 Views

Income Tax Dept Targets Disposal of 2 Lakh Appeals Worth Rs 10 Lakh Crore in FY26

07 May 2025 at 09:04

In a major push to expedite tax dispute resolution and unlock substantial revenue, the Income Tax Department has set a bold target of disposing over 200,000 appeals in FY26.

Posted in Income Tax | 8541 Views

Finance Ministry Brings Key Payment Law Amendments into Force from 9th May 2025

07 May 2025 at 09:00

The Ministry of Finance has officially notified that Sections 152 and 153 of the Finance Act, 2017, which amend the Payment and Settlement Systems Act, 2007, will come into force from May 9, 2025.

Posted in Community & General | 3816 Views

GSTN Defers Invoice-wise Reporting Functionality in GSTR-7 Due to Technical Glitches

07 May 2025 at 08:56

In a recent update, the GSTN has announced a deferment in the implementation of the invoice-wise reporting functionality in Form GSTR-7, which was originally scheduled to go live for the return period starting April 2025.

Posted in GST | 3042 Views