CAclubindia News

GSTN Rolls Out Biometric Aadhaar Authentication for GST Registration in Maharashtra & Lakshadweep

08 February 2025 at 13:54

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Maharashtra and LakshadweepDear Taxpayers,This is to inform taxpayers about recent developments concerning the application process for GS

Posted in GST | 486 Views

Union Cabinet Approves New Income Tax Bill: Key Highlights and Expected Changes

08 February 2025 at 09:02

The Union Cabinet on Friday approved the new Income Tax Bill, as per sources. The bill is set to replace the Income Tax Act, 1961 and aims to simplify and modernize India's tax system while making compliance easier for taxpayers.

Posted in Income Tax | 4392 Views

RBI Cuts Repo Rate by 25 bps to 6.25% After 5 Years

08 February 2025 at 08:52

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has unanimously decided to reduce the policy repo rate by 25 basis points, bringing it down from 6.50% to 6.25%. Consequently, the Standing Deposit Facility (SDF) rate is set at 6.00%,

Posted in Others | 411 Views

Hyderabad IT Professionals Caught in Rs 110 Crore Tax Refund Scam Using Fake Political Donations

08 February 2025 at 08:52

The Income Tax department in Hyderabad has uncovered a massive tax fraud scheme involving IT professionals who falsely claimed tax refunds by making fraudulent donations to registered unrecognised political parties (RUPPs).

Posted in Income Tax | 2220 Views

Income Tax Cut Signals Strong Economy, Says FM Nirmala Sitharaman

08 February 2025 at 08:52

Income Tax Cut Signals Strong Economy, Says FM Nirmala Sitharaman

Posted in Income Tax | 444 Views

CBI Books IRS Officer, 6 CAs for Leaking Sensitive Faceless Assessment Data

08 February 2025 at 08:52

CBI on Thursday conducted searches across 18 locations nationwide after registering a case against an Indian Revenue Service (IRS) officer and several Income Tax (IT) officials for allegedly sharing sensitive data related to pending tax assessments

Posted in Income Tax | 2532 Views

GSTN Introduces State-Specific Information Tab in Rajasthan's GST Registration Process

08 February 2025 at 08:52

In a significant update to the Goods and Services Tax (GST) registration process, the GST Network (GSTN) has introduced a new "State-Specific Information" tab in the GST REG-01 application for new registrations in Rajasthan.

Posted in GST | 669 Views

CBIC to Launch Online Customs Refund System in a Month to Streamline Trade

07 February 2025 at 09:02

The Central Board of Indirect Taxes and Customs (CBIC) is set to introduce an online system for customs refunds within the next month, marking a significant step toward full digitization of customs processes in India.

Posted in GST | 2001 Views