CAclubindia News

CBDT Waives Interest for Taxpayers Affected by Incorrect 87A Rebate under Section 115BAC

23 September 2025 at 08:53

CBDT issues Circular 13/2025 granting relief to taxpayers affected by rectifications . Interest under section 220(2) waived if demands are paid by December 31, 2025. Key details on rebate correction under section 87A explained

Posted in Income Tax | 2715 Views

Supreme Court Justice Criticizes Tax and Legal Mindset, Calls for Bold Reforms

23 September 2025 at 08:52

Supreme Court Justice Manmohan warns that India must reimagine outdated tax and legal systems to achieve its 2047 developed nation goal, stressing mindset change, simpler laws and modern reforms.

Posted in Income Tax | 2139 Views

GST 2.0 Rollout: FMCG and Consumer Goods Makers Announce Price Cuts, Upgrade Systems

23 September 2025 at 08:52

With GST 2.0 rollout, FMCG majors like ITC, Parle and Bisleri announce price cuts, system upgrades and trade schemes. Dual MRPs may appear during transition, but industry expects higher consumption this festive season.

Posted in GST | 339 Views

PM Modi pens letter to all citizens to celebrate GST Bachat Utsav

23 September 2025 at 08:52

Prime Minister Narendra Modi urges citizens to celebrate the ‘GST Bachat Utsav’ this festive season, highlighting how lower GST rates bring more savings for households and ease of business for traders.

Posted in GST | 240 Views

GST reform in Coal Sector - A Transformative Step Towards AatmNirbharta in Coal

23 September 2025 at 08:47

The Ministry of Coal has welcomed the landmark decisions taken at the 56th meeting of the GST Council held in New Delhi, which have brought significant changes to the taxation structure of the coal sector.

Posted in GST | 90 Views

Navratri Gift to Citizens: PM Modi Announces GST Savings Festival from Sept 22

22 September 2025 at 08:55

PM Modi's Navratri gift: next-gen GST reforms with just 5% & 18% slabs to cut costs on food, medicines, insurance and travel.

Posted in GST | 2337 Views

ICAI Extends Deadline for MEF 2025-26 Submission to October 10, 2025

22 September 2025 at 08:43

ICAI has extended the deadline for filing the Multipurpose Empanelment Form (MEF) 2025-26 from September 26 to October 10, 2025.

Posted in Professional Resource | 65655 Views

ITR-5 and ITR-7 Now Enabled for Online Filing for AY 2025-26, Offline Utility Available for ITR-7

22 September 2025 at 08:39

The Income Tax Department has enabled ITR-5 and ITR-7 for online filing with prefilled data for AY 2025-26. The offline utility for ITR-7 is also available for download to simplify tax compliance.

Posted in Income Tax | 159 Views

GST 2.0 Reforms from September 22 to Cut Construction Costs, Boost Indian Real Estate

22 September 2025 at 08:38

India’s GST 2.0 reforms, effective September 22, simplify tax rates and reduce GST on construction materials, lowering home prices and boosting demand in residential, retail and office real estate sectors.

Posted in GST | 2580 Views

GST 2.0 Reforms to Transform India's Manufacturing Sector from September 22

22 September 2025 at 08:38

India’s GST 2.0 reforms, effective September 22, simplify tax rates, reduce compliance burdens, and boost competitiveness for manufacturers across sectors like automotive, textiles, electronics, FMCG, and renewable energy.

Posted in GST | 204 Views