CAclubindia News

IRDAI Likely to Review GST ITC Impact on Insurance Distributor Payouts

08 October 2025 at 06:40

Private insurers cut agent payouts by 15–18% to offset GST ITC loss, while LIC and public insurers maintain commissions. Agents seek intervention from IRDAI and Finance Ministry.

Posted in GST | 1509 Views

India's Fiscal Deficit on Track for FY26, but Slowing Tax Revenues Raise Concerns

08 October 2025 at 06:40

India is on track to meet its FY26 fiscal deficit target of 4.4% of GDP, but slowing income tax and GST revenues raise concerns. Analysts flag risks amid government borrowing plans and expenditure trends.

Posted in Income Tax | 204 Views

Kerala Traders Raise Concerns Over GST Exemptions Favoring Large Corporates

07 October 2025 at 05:51

Traders in Kerala have expressed concern that the recent GST exemptions may be benefiting large corporates at the expense of small and medium trading establishments. The State President of Kerala Vyapari Vyavasayi Ekopana Samithi and National Secreta

Posted in GST | 432 Views

State GST Raids 20 Companies in Jamnagar, Tax Evasion of Rs 80 Crore Unearthed

07 October 2025 at 05:51

State GST raids 20 Jamnagar firms and a CA for tax evasion over Rs 80 crore; investigations reveal billing scam, more details expected after document review.

Posted in GST | 606 Views

GST-Free Insurance Fuels Demand: 61% Surge in Enquiries Post GST Waiver on Insurance Premiums

07 October 2025 at 05:51

GST waiver on life and health insurance sparks 61% surge in enquiries; insurers pass full benefits to customers, making coverage more affordable.

Posted in GST | 1020 Views

GST Exemption on Insurance Premiums Triggers 18% Commission Cut by Insurers

07 October 2025 at 05:51

After the government removed 18% GST on life, health, and accident insurance, major insurers slashed distributor commissions by 18% to offset loss of input tax credit (ITC). Agents warn the move could weaken insurance distribution and hurt penetration.

Posted in GST | 447 Views

CA and Advocate Arrested in Rs 79.18 Crore GST Evasion Case

07 October 2025 at 05:51

DGGI officials arrested a chartered accountant and an advocate from Sonepat for a Rs 79.18 crore GST evasion scam involving fake ITC claims. In a separate case, a Kanpur court denied bail to a Bengaluru man accused of ₹85 crore corporate forgery.

Posted in GST | 3765 Views

IT Department Releases Updated ITR-5 and ITR-6 Utilities for AY 2025-26

06 October 2025 at 07:14

CBDT releases updated ITR-5 and ITR-6 utilities for AY 2025-26 on Oct 2, 2025, improving accuracy, validation, and ease of income tax filing.

Posted in Income Tax | 288 Views

FM Sitharaman Unveils Financial Awareness Drive to Reunite Citizens with Unclaimed Deposits Worth Rs 75,000 Crore

06 October 2025 at 07:14

FM Nirmala Sitharaman launches "आपकी पूँजी, आपका अधिकार" campaign to help citizens trace and reclaim unclaimed deposits, insurance, and mutual fund balances.

Posted in Community & General | 1227 Views