CAclubindia News
GST Council Likely to Approve 5% and 18% Two-Slab Structure: Big Reforms Coming by Diwali
16 August 2025 at 08:57The GST Council may finalise next-gen reforms in its September-October meeting, including a two-slab structure of 5% and 18%, a 40% sin tax, faster refunds, and pre-filled returns to ease compliance.
GST System to Align AATO Figures on NIC e-Invoice Portals from 1st September 2025
16 August 2025 at 08:38From September 1, 2025, NIC e-Invoice portals will display Aggregate Annual Turnover (AATO) data aligned with GST system records. Taxpayers can report discrepancies via the GST Grievance Redressal Portal or Helpdesk.
From Zero Tax to 40,000 Compliance Cuts: PM Modi Outlines Decade of Transformation on 79th Independence Day
16 August 2025 at 08:38On India’s 79th Independence Day, PM Modi announced sweeping reforms to build a self-reliant, citizen-friendly nation.
PM Modi Announces Next-Gen GST Reforms to Boost Economy and Ease of Living
16 August 2025 at 08:37On the 79th Independence Day, PM Narendra Modi announced plans for next-generation GST reforms focusing on structural changes, rate rationalisation, and ease of living to benefit the common man, farmers, MSMEs and key economic sectors
Facility for Filing Updated Returns for AY 2021-22 and AY 2022-23 for ITR-3 and ITR-4 Now Available
15 August 2025 at 08:46The Income Tax Department has announced that taxpayers can now file updated returns for Assessment Years (AY) 2021-22 and AY 2022-23 using ITR-3 and ITR-4 forms.
Income Tax Department Releases Excel Utility of ITR-6 for AY 2025-26
15 August 2025 at 08:20The Income Tax Department has released the Excel utility of ITR-6 for Assessment Year (AY) 2025-26, enabling companies to file their income tax returns for the relevant financial year.
Rajasthan Commercial Taxes Dept Tightens ITC Verification for Delayed GST Registrations
15 August 2025 at 07:59Rajasthan GST Dept issues circular to reject ITC claims on pre-registration stock for businesses registering after 30 days; directs strict monitoring to curb revenue leakage.
New Income Tax Bill 2025 Clears Confusion on Rental Income, Home Loan Deductions
15 August 2025 at 07:50New Income Tax Bill 2025 confirms no change in rental income taxation or home loan deductions; clarifies pre-construction interest allowed for both self-occupied and let-out properties from April 1, 2026.
Govt Clarifies Rs 75,000 Standard Deduction Under New Tax Regime in Income Tax Bill 2025
15 August 2025 at 07:42Govt clarifies Rs 75,000 standard deduction for salaried taxpayers under new regime in Income Tax Bill 2025, effective April 1, 2026; also aligns tax benefits for UPS with NPS.
SGST Department Arrests Two Company Directors for Rs 50 Crore GST Evasion Through Fake ITC Claims
15 August 2025 at 07:29SGST arrests two company directors in Rs 50 crore GST evasion cases involving fake invoices and fraudulent ITC claims, as authorities intensify crackdown on tax fraud
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