CGST Palghar arrested CA Ritesh Padamchand Burad for a Rs 11.72 crore fake GST ITC scam involving bogus invoices and shell firms. He allegedly controlled invoicing, bank transactions, and earned commissions per deal.
CBIC Chairman Sanjay Agarwal said GST rate cuts could drive higher consumption and offset an estimated Rs 48,000 crore revenue loss if industries pass benefits to consumers.
Finance Minister Nirmala Sitharaman said the GST slab rationalisation, reducing slabs to two and exempting health and life insurance, was 18 months in the making, not a reaction to US tariffs.
CBIC Chairman Sanjay Kumar Agarwal confirmed no GST cuts on sin goods, but hinted at future reforms toward a single standard GST rate.
ICAI has postponed the CA Final and Intermediate exams scheduled for September 11–15, 2025, in Kathmandu due to protests. Revised dates will be announced soon. Other exam centres remain unaffected.
A dhaba cook from Bhind, Madhya Pradesh, earning just Rs 10,000 a month, has been hit with a shocking Rs 46 crore income tax notice after being duped into opening a bank account linked to fraudulent transactions.
GST overhaul makes staples tax-free and lowers GST on processed foods to 5%. Big relief for consumers and small businesses.
From Sept 2025, GST returns older than 3 years from due date cannot be filed. Taxpayers must clear pending filings before the deadline.
Government cuts GST on gyms, bicycles, toys, sports goods, two-wheelers and small cars. The move makes fitness, sports, and mobility more affordable for India's youth.
GST rationalisation lowers rates on vehicles, parts, and transport services. The move to fuel demand, job creation, farm mechanisation and export growth.
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