CAclubindia News

GST Reduction on Agricultural Inputs Under Review, Says FM Sitharaman

27 March 2025 at 08:41

The Group of Ministers (GoM) on GST rationalisation is evaluating a proposal to reduce the tax rates on essential agricultural inputs, including drip irrigation systems, fertilisers and pesticides.

Posted in GST | 1509 Views

WhatsApp Chats Expose Rs 200 Crore Tax Evasion: FM Nirmala Sitharaman Justifies New Tax Bill

27 March 2025 at 08:37

In a significant revelation, Finance Minister Nirmala Sitharaman disclosed that tax authorities successfully uncovered Rs 200 crore worth of tax evasion using WhatsApp messages as evidence.

Posted in Income Tax | 5109 Views

CBDT releases Supplementary FAQs on the Finance Bill, 2025

26 March 2025 at 09:00

Supplementary FAQs on the Finance Bill, 2025

Posted in Income Tax | 2523 Views

CBDT Notifies Amendments in Income-Tax Rules to Broaden Safe Harbour Scope

26 March 2025 at 08:40

CBDT Notifies Sixth Amendment to Income-Tax Rules, 2025Key Highlights of Notification No. 21/2025The Central Board of Direct Taxes (CBDT) has issued Notification No. 21/2025 on March 25, 2025, amending the Income-tax Rules, 1962.

Posted in Income Tax | 2073 Views

Govt Launches MSME TEAM Initiative to Boost E-Commerce Adoption via ONDC

26 March 2025 at 08:34

During the FY 2024-25, the MSMEhas launched a sub scheme under Central Sector Scheme Raising and Accelerating MSME Performance Program (RAMP), namely MSME Trade Enablement and Marketing (MSME TEAM) Initiative on 27th June 2024.

Posted in Corporate Law | 639 Views

Lok Sabha Passes Finance Bill 2025 with 35 Amendments, Moves to Rajya Sabha for Approval

26 March 2025 at 08:34

The Lok Sabha on Tuesday passed the Finance Bill, 2025, incorporating 35 government amendments, marking a significant step in the Budget approval process.

Posted in Income Tax | 2211 Views

Income Tax Dept Flags Rs 29 Lakh Crore as Hard to Recover from Rs 43 Lakh Crore Dues

25 March 2025 at 08:41

The Income Tax Department is grappling with an overwhelming backlog of direct tax arrears, with Rs 29 lakh crore classified as nearly impossible to recover, as per official submissions to the Parliamentary Standing Committee on Finance.

Posted in Income Tax | 2724 Views

Supreme Court Allows NFRA to Continue Proceedings Against CAs, but Restricts Final Orders

25 March 2025 at 08:32

In a crucial development impacting India's audit and accounting sector, the SC has permitted the NFRA to proceed with disciplinary cases against CAs and audit firms even where no AQRRs have been prepared and final orders are yet to be passed.

Posted in Audit | 3453 Views

Govt Proposes to Scrap 6% Equalisation Levy on Digital Ads in Finance Bill 2025

25 March 2025 at 08:32

In a significant move impacting India's digital advertising landscape, the government has proposed amendments to the Finance Bill 2025, including the removal of the 6% equalisation levy on online advertisements.

Posted in Income Tax | 1632 Views

DGGI Busts Rs 171.45 Crore GST Fraud, Accused Held

24 March 2025 at 08:42

The Directorate General of GST Intelligence (DGGI), Visakhapatnam Zonal Unit, has arrested Maddi Prasad in Karnataka for his alleged involvement in a massive GST fraud case.

Posted in GST | 861 Views