CAclubindia News
ICAI Tightens Fraud Detection Norms for Financial Statements with Stricter Review Parameters
25 October 2025 at 06:18ICAI has tightened fraud detection norms with new financial review parameters for FY24, focusing on high-risk companies, insolvency cases, and stricter scrutiny through its Financial Reporting Review Board (FRRB).
ICAI Releases Revised Handbook on Input Service Distributor (ISD) Under GST
25 October 2025 at 06:17The Institute of Chartered Accountants of India (ICAI) has released the second edition of its Handbook on Input Service Distributor (ISD) under GST, updated till September 2025.
FM Sitharaman Urges GST Officers to Be Polite, Empathetic and Tech-Driven in Dealing with Taxpayers
25 October 2025 at 06:16FM urged GST officers to be polite, empathetic, and tech-driven in dealing with honest taxpayers. She emphasized faster GST registration approvals, swift grievance redressal, and accountability within CBIC through timely disciplinary action.
GST 2.0 Sparks Auto Revival: Car Sales Double as Festive Demand Peaks
24 October 2025 at 06:15GST 2.0 has given India's automotive industry a major boost, with car sales more than doubling since September 22.
GST Rate Cut: Consumers Yet to See Full Benefit as Small Retailers Sell at Old Prices
24 October 2025 at 06:15While large companies have passed on the benefits, unorganised retailers remain slow to comply, prompting close monitoring by CBIC and government authorities to ensure full pass-through of GST benefits by December.
Banking Laws (Amendment) Act, 2025: New Nomination Rules for Depositors Effective 1st Nov 2025
24 October 2025 at 06:15Key nomination provisions under the Banking Laws (Amendment) Act, 2025 to take effect from Nov 1, allowing up to 4 nominees and ensuring transparent claim settlements.
UPI Festive Boom: Digital Payments Hit Record Rs 23.5 Lakh Crore in October 2025
24 October 2025 at 06:15UPI recorded its highest-ever single-day transaction value this Diwali, hitting Rs 1.02 lakh crore across 754 million transactions. NPCI data shows India’s festive season driving record digital payments, credit card growth, and fintech innovation.
CBDT APA Annual Report 2024-25: Unprecedented Growth in Unilateral & Bilateral Agreements
23 October 2025 at 06:14CBDT's APA Annual Report 2024-25 records a surge in Advance Pricing Agreements, offering tax certainty for multinational enterprises and strengthening India's ease of doing business
CBDT Issues Directions on Verification of Expenses in the Entertainment Sector Following C&AG Audit Report
23 October 2025 at 06:14CBDT issues fresh directions following C&AG's Performance Audit Report on the entertainment sector, instructing tax officers to ensure uniform assessment of pre-operative and film production expenses under Rules 9A and 9B of the Income-tax Rules, 1962.
Audit Flags Cost Escalation and GST Issues in Chandigarh Streetlight Works
23 October 2025 at 06:14Audit report exposes cost escalation, non-scheduled items, and unverified GST payments in Electrical Division No. 3 streetlight works. Final action from authorities awaited.
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