CAclubindia News

Lok Sabha Select Committee Submits Key Recommendations on Income Tax Bill, 2025

22 July 2025 at 09:23

The Lok Sabha Select Committee has submitted its report on the Income Tax Bill, 2025, recommending critical amendments for clarity, fairness and alignment with current tax practices.

Posted in Income Tax | 2100 Views

Fake ITC Claims Jump 29% to Rs 15,851 Crore in Q1 FY26

22 July 2025 at 09:17

Fake ITC claims hit Rs 15,851 crore in Q1 FY26, up 29% YoY. GST officers arrest 53, detect 3,558 fake firms. Crackdown on bogus GST registrations intensifies.

Posted in GST | 1536 Views

GST Department Nabs Key Accused in Rs 10 Crore ITC Scam in Vikhroli

22 July 2025 at 09:10

Maharashtra GST & CGST bust Rs 28.6 crore fake ITC scam. Two arrested in separate cases for availing and passing fake Input Tax Credit without real trade.

Posted in GST | 249 Views

CBDT Relaxes TDS/TCS Norms for Inoperative PANs Linked with Aadhaar

22 July 2025 at 09:06

CBDT eases TDS/TCS rules for inoperative PANs. Relief granted if PAN is linked with Aadhaar within specified timelines. Know new compliance norms.

Posted in Income Tax | 3015 Views

AI-Powered Probe Helps Income Tax Dept Expose Fake Exemption Rackets

21 July 2025 at 09:22

Income Tax Department busts nationwide scam using AI and financial intelligence, exposing fake ITR deductions and inflated refund claims facilitated by rackets across India. CBDT issues caution to taxpayers.

Posted in Income Tax | 2052 Views

PIB Warns Taxpayers Against Fake Income Tax Emails Asking for Manual Verification

21 July 2025 at 09:15

PIB warns taxpayers against fake emails posing as Income Tax Department messages asking for manual verification. Learn how to report phishing and stay protected.

Posted in Income Tax | 1458 Views

Customs Act Amendment: Finance Ministry Deletes Entry 10A from Exemption List

21 July 2025 at 09:07

The Finance Ministry has deleted Serial No. 10A from Customs Notification No. 146/94 via Notification No. 34/2025-Customs dated July 19, 2025. Importers and stakeholders must review the change for compliance.

Posted in Income Tax | 162 Views

GSTR-3A Notices Erroneously Issued to Cancelled Composition Taxpayers Under GST: GSTN Advisory

21 July 2025 at 08:57

GSTN clarifies that GSTR-3A notices were mistakenly issued to some cancelled composition taxpayers due to a system glitch. Affected taxpayers with cancelled registrations before FY 2024-25 can ignore the notices. Technical fixes are underway.

Posted in GST | 2931 Views

GSTN to Reinstate Non-Editable Table 3.2 in GSTR-3B from July 2025

21 July 2025 at 08:49

Starting July 2025, GSTN will make Table 3.2 of GSTR-3B non-editable, auto-populating inter-state supply details from GSTR-1, GSTR-1A, or IFF. Taxpayers must ensure accurate reporting to avoid discrepancies and filing issues.

Posted in GST | 5601 Views

Tax Department Urges Bengaluru Vendors Not to Avoid UPI Amid GST Notice Confusion

19 July 2025 at 07:44

The Karnataka Commercial Tax Department clarified that GST notices are based on all types of payments, not just UPI, after small businesses in Bengaluru switched to cash-only transactions over tax fears.

Posted in GST | 2256 Views