CAclubindia News

GST Refund Delays Hurt Punjab Industry, FICO Pushes for Automated System

26 November 2025 at 06:21

FICO has urged the Punjab government to automate GST refunds, citing delays caused by the inverted duty structure and a burdensome four-stage verification process.

Posted in GST | 222 Views

SIT Busts Rs 400 Crore GST Evasion Racket, 144 Shell Firms Linked to Job Scam Exposed

26 November 2025 at 06:21

UP's Special Investigation Team has busted a Rs 400-crore GST evasion racket involving 144 shell companies created using stolen documents of job seekers.

Posted in GST | 1926 Views

Centre Expects Mild Tax Shortfall After GST Cuts, Non-Tax Revenue to Bridge Gap

26 November 2025 at 06:21

The Centre anticipates a marginal shortfall in tax revenue this fiscal due to GST rate cuts, income-tax relief and global headwinds affecting corporate earnings.

Posted in GST | 885 Views

Finance Ministry Revives Plan to Merge Three PSU General Insurers

26 November 2025 at 06:21

The Finance Ministry is reassessing the long-pending merger of Oriental Insurance, National Insurance and United India Insurance after their financial health improved following major capital infusions.

Posted in GST | 498 Views

India's FMCG Market Rebounds in October as GST Cuts Lift Demand

26 November 2025 at 06:21

India's FMCG market saw a strong rebound in October 2025 with value growth rising to 6.8%, driven by GST cuts and improving urban demand.

Posted in GST | 372 Views

CGST Busts Rs 350 Crore Fake GST Invoice Racket in Chennai

25 November 2025 at 06:40

CGST officials in Chennai have busted an inter-state fake GST invoice racket involving 12 entities, confirming Rs 50.85 crore tax evasion with total fraud estimated to exceed Rs 350 crore.

Posted in GST | 837 Views

GST Authorities Arrest Copper Wire Unit MD for Rs 35 Crore Tax Evasion in Chennai

25 November 2025 at 06:16

CGST Chennai North arrests MD of a copper wire firm for Rs 34.81 crore GST evasion after uncovering unaccounted sales and incriminating digital and cash records.

Posted in GST | 678 Views

Supreme Court Issues Notice on Plea Challenging Income Tax Exemption for Cash Political Donations up to Rs 2000

25 November 2025 at 06:16

The Supreme Court has issued notice on a petition challenging Section 13A(d) of the Income Tax Act, which allows political parties to accept cash donations up to Rs 2,000 without revealing donor identity.

Posted in Income Tax | 1623 Views

Insurance Reforms Get Big Push as Centre Moves to Raise FDI Cap to 100% in Winter Session of Parliament

25 November 2025 at 06:16

India's Insurance Bill proposes raising FDI to 100%, introducing composite licences, and easing capital norms to boost growth and insurance penetration.

Posted in Service Tax | 411 Views

CBDT Releases Time Series Data for FY 2000-01 to FY 2024-25: Direct Tax Collections Jump to Rs 22.26 Lakh Crore

24 November 2025 at 06:57

India's direct tax collections hit a record Rs 22.26 lakh crore in FY 2024-25 as per CBDT data, with the tax-to-GDP ratio rising to 6.73% and taxpayers exceeding 12 crore.

Posted in Income Tax | 3147 Views