CAclubindia News

CBDT Panel Recommends Tougher Benami Law With Wider Data Access for IT Department

26 August 2025 at 09:38

Centre may tighten Benami law with Aadhaar, property, and vehicle data access for tax officials, stricter rules for shell firms and dummy directors.

Posted in Income Tax | 1494 Views

Centre Braces for Rs 40,000 Crore Revenue Loss as GST Overhaul Nears

26 August 2025 at 09:35

Centre braces for Rs 40,000 crore revenue loss as GST reforms shift to two slabs of 5% and 18%.

Posted in GST | 1371 Views

Income Tax Raids NGOs Across 6 States, Uncover Rs 800 Crore CSR Fund Misuse

26 August 2025 at 09:21

Income Tax raids on NGOs across 6 states expose Rs 800 crore CSR misuse and Rs 10,000 crore bogus remittances abroad; probe still underway.

Posted in Income Tax | 867 Views

GST Council May Roll Out New Rate Slabs by September 22, Ahead of Festive Season

26 August 2025 at 09:12

GST Council may roll out new two-slab GST rates around September 22 to boost festive demand, with cuts likely after its September 3-4 meeting.

Posted in GST | 2184 Views

ITAT Patna Grants Tax Relief on Rs 4.5 Crore Property Sale Despite Filing Error

25 August 2025 at 09:10

ITAT Patna grants major relief to taxpayer, allowing Rs 4.5 crore property sale exemption despite the wrong section being claimed. Tribunal rules substance over form, citing CBDT's 1955 circular.

Posted in Income Tax | 1797 Views

Police Arrest Four for Impersonating Income Tax Officers, Extorting Citizen at Gunpoint

25 August 2025 at 09:03

Surendranagar police arrested four men posing as income tax officers for extorting valuables at gunpoint. Cash, gold, and SUVs worth over Rs 24 lakh seized; three accused still absconding.

Posted in Income Tax | 312 Views

GST Rationalisation: Real Estate Sector Poised for Major Boost

25 August 2025 at 08:54

The GoM on GST rationalisation has approved a two-slab structure of 5% and 18%, removing 12% and 28% rates. Experts say the move could cut housing costs, boost buyer sentiment, and improve transparency in India's real estate sector.

Posted in GST | 3954 Views

FMCG Distributors Seek Clarity from Finance Minister on GST Rate Transition

25 August 2025 at 08:49

FMCG distributors urge Finance Minister to issue guidelines on GST rate cuts, warning of supply chain disruption, margin pressure and ITC concerns during the transition.

Posted in GST | 1 comments | 5958 Views

GoM Endorses GST Reform: Proposal to Cut Slabs from 4 to 2 Moves Forward

25 August 2025 at 08:42

GoM backs Centre’s proposal to simplify GST slabs from four to two, retaining 5% and 18% with a special 40% slab for luxury goods. States seek clarity on revenue loss before GST Council’s final call

Posted in GST | 255 Views

Chartered Accountant arrested by ED in Rs 792 Crore Falcon Invoice Discounting Scam

25 August 2025 at 08:36

ED Hyderabad arrests CA Sharad Chandra Toshniwal in the Rs 792 crore Falcon invoice discounting scam for allegedly laundering funds. Probe reveals fake investment scheme, diversion of money and concealment of illicit assets

Posted in Others | 2502 Views