CAclubindia News

CBIC Issues Instruction to Align Import Policy with Finance Act, 2025

12 November 2025 at 09:16

CBIC issues Instruction No. 32/2025-Customs to align the ITC (HS) 2022 Import Policy with the Finance Act, 2025, following DGFT Notification 44/2025-26, ensuring consistency in customs classification and import procedures.

Posted in Custom | 579 Views

Rs 51.74 Crore GST Evasion Busted in Lucknow: Two Traders Booked for Creating Fake Firms

12 November 2025 at 06:36

The Uttar Pradesh State Tax Department has uncovered a Rs 51.74 crore GST evasion scam in Lucknow, where two traders created fake firms - HK Impax and Sun Enterprises to claim fraudulent input tax credits.

Posted in GST | 291 Views

Uttar Pradesh Launches Statewide Crackdown to Detect Fake Firms and Tax Evasion

12 November 2025 at 06:36

The Uttar Pradesh State Tax Department has initiated a massive review of all registered firms to curb GST evasion and bogus business activities.

Posted in GST | 264 Views

GST 2.0 Fails to Ease Household Budgets: Families Report No Major Price Drop

12 November 2025 at 06:36

Nearly 50 days after GST 2.0 came into effect, consumers report little relief in grocery bills. Despite minor price drops in select items like toothpaste, chocolates, and soaps, household kitchen budgets remain largely unchanged under the new tax regime.

Posted in GST | 369 Views

CBDT Uncovers Rs 9169 Crore Political Donation Laundering Racket Involving CAs and RUPPs

12 November 2025 at 06:36

The CBDT has uncovered a Rs 9,169 crore political donation laundering racket involving Registered Unrecognised Political Parties (RUPPs), CAs and intermediaries who used fake receipts and cash refunds to evade taxes across two assessment years.

Posted in Income Tax | 4419 Views

President Droupadi Murmu Summons Winter Session of Parliament from December 1, 2025

12 November 2025 at 06:36

President Droupadi Murmu has summoned both Houses of Parliament, Lok Sabha and Rajya Sabha, to convene for the Winter Session in New Delhi on December 1, 2025, at 11 AM, as per official Gazette notifications issued on November 8, 2025.

Posted in Community & General | 1284 Views

FM Sitharaman Begins Pre-Budget Consultations for Union Budget 2026-27

12 November 2025 at 06:36

FM Sitharaman has kicked off pre-budget consultations for Union Budget 2026-27 with leading economists, industry representatives, and farmer unions. Discussions focused on tax reforms, MSME support, agricultural growth, and ease of doing business.

Posted in Union Budget & Policy | 1155 Views

CBDT Simplifies Process to Correct TDS, Interest and Refund Errors

11 November 2025 at 06:41

Taxpayers will now get faster refunds as CBDT authorizes CPC Bengaluru to correct TDS, TCS, and interest errors instantly under Section 154. The move eliminates long delays and improves tax transparency.

Posted in Income Tax | 5562 Views