CAclubindia News

GST Rates Drop from 15.8% to 11.3% Since Implementation: FM Nirmala Sitharaman

13 February 2025 at 08:56

FM Nirmala Sitharaman informed the Rajya Sabha on Tuesday that the average indirect tax under the GST has significantly reduced since its rollout.

Posted in GST | 555 Views

GSTN Issues Advisory for GST Registration Process Under Rule 8 of CGST Rules, 2017

13 February 2025 at 08:47

The GST Network (GSTN) has introduced new measures for GST registration, reinforcing compliance with Rule 8 of the CGST Rules, 2017.

Posted in GST | 10563 Views

ITR Filings Surge to 83.9 Million in FY25, Up 4% from Last Year

13 February 2025 at 08:46

The total number of income tax returns (ITRs) filed in FY25 reached a record 83.9 million by December 31, 2024, marking a 4% increase from the previous year, according to government data.

Posted in Income Tax | 345 Views

MCA Extends Deadline for Mandatory Dematerialization of Private Companies Until 30th June 2025

13 February 2025 at 08:46

In a significant move, the Ministry of Corporate Affairs (MCA) has extended the deadline for mandatory dematerialization of securities for certain private companies until June 30, 2025.

Posted in Corporate Law | 4839 Views

CBIC Notifies Implementation Dates for Key GST Rule Amendments

13 February 2025 at 08:46

The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 09/2025 - Central Tax on February 11, 2025, announcing the enforcement dates for select amendments to the Central Goods and Services Tax (CGST) Rules, 2017.

Posted in GST | 2406 Views

ICAI elects New Torchbearers for the year 2025-26

12 February 2025 at 17:50

The Council of the Institute of Chartered Accountants of India (ICAI) today elected its new President & Vice-President for the term 2025-26.

Posted in Professional Resource | 9678 Views

Income Tax Bill 2025: Key Tax Reforms & New Rules Effective from April 2026

12 February 2025 at 12:39

The Indian government has introduced a new Income Tax Bill, replacing the Income Tax Act, 1961, which has undergone multiple amendments over the decades.

Posted in Income Tax | 2 comments | 8346 Views

Centre's Retrospective GST Amendment May Face Legal Challenge in Supreme Court

12 February 2025 at 07:21

The central government's move to retrospectively amend a section of the Goods and Services Tax (GST) Act in the Union Budget 2025-26 may face legal scrutiny, as a review petition related to the issue is expected to be heard by the Supreme Court

Posted in GST | 762 Views

GST Evasion of Rs 1.88 Lakh Crore Detected by CGST Officers in April-Dec 2024

12 February 2025 at 07:21

The Central Goods and Services Tax (CGST) officers detected GST evasion worth ₹1.88 lakh crore in 72,393 cases during April-December 2024, Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha on Monday.

Posted in GST | 501 Views

ICAI Introduces Revised Merger and Demerger Guidelines 2024 for CA Firms

12 February 2025 at 07:14

The Institute of Chartered Accountants of India (ICAI) has introduced the ICAI (Merger and Demerger of CA Firms) Guidelines, 2024, aimed at streamlining the process of firm mergers and demergers.

Posted in Audit | 1914 Views