CAclubindia News
Iron Trader Arrested for Rs 26 Crore GST Fraud Involving 10 Fake Firms
14 June 2025 at 09:17The State Goods and Services Tax (SGST) department has arrested a 32-year-old iron trader from Raipur for orchestrating a massive fake input tax credit (ITC) scam, leading to a loss of Rs 26 crore to the exchequer.
Air India Crash: Tata Group's Rs 1 Crore Ex-Gratia Payment Likely Exempt from Income Tax
13 June 2025 at 10:48Tata Group offers Rs 1 crore compensation per victim's family after AI171 crash. Tax-exempt ex-gratia under Indian law. Nation mourns 242 lives lost.
RBI Issues Revised Guidelines for Inoperative Accounts and Unclaimed Bank Deposits
13 June 2025 at 09:23The Reserve Bank of India (RBI) has issued the Revised Instructions (Amendment), 2025 under the Inoperative Accounts/ Unclaimed Deposits in Banks guidelines.
FM Leads FSDC Meeting to Push for Refund of Unclaimed Deposits and Simplified KYC Norms
13 June 2025 at 09:20Union Finance Minister exhorts FSDC to further take proactive steps for seamless KYC processes across the financial sector to enhance user experience
CBDT Notifies Zero-Coupon Bond Issued by NABARD Worth Rs 19,500 Crore for Income Tax Purposes
13 June 2025 at 09:19CBDT has officially notified a zero-coupon bond issued by the National Bank for Agriculture and Rural Development (NABARD) under clause (48) of Section 2 of the Income-tax Act, 1961.
SPL-01/SPL-02 Filing Glitch: GSTN Issues Advisory for Taxpayers
13 June 2025 at 09:16Taxpayers filing amnesty applications via Form SPL-01/SPL-02 under Section 128A of the CGST Act are facing glitches on the GST Portal in auto-populating payment details. GSTN advises uploading payment proof manually for officer verification.
GSTN Issues Clarification on HSN Table 12 for B2C Supplies in GSTR-1 Filing
12 June 2025 at 09:22The Goods and Services Tax Network (GSTN) has issued an important clarification addressing challenges faced by taxpayers while filing GSTR-1 returns when they have only B2C supplies and are required to fill Table 12 (HSN Summary). The Clarification w
CBI Arrests CGST Superintendent and Tax Advocate for Rs 1 Lakh Bribe in GST Penalty Waiver Case
12 June 2025 at 09:14CBI has arrested Nishan Singh Malli, Superintendent of Central Goods and Services Tax (CGST), Amroha and tax advocate Amit Khandelwal for allegedly accepting a bribe of Rs 1 lakh-part of a Rs 4 lakh demand-in exchange for waiving GST penalties.
GSTN Issues Advisory as Over 3 Lakh Amnesty Applications Filed Under Section 128A
12 June 2025 at 09:10GSTN has issued an advisory for taxpayers facing technical issues while filing amnesty applications under Section 128A of the CGST Act, in light of the approaching deadline and the growing number of representations from trade bodies seeking assistance.
FEMA Amendment 2025: Bonus Shares Permitted for Foreign Investors in Restricted Sectors
12 June 2025 at 09:05The Ministry of Finance has notified an amendment to the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, allowing Indian companies operating in sectors where Foreign Direct Investment (FDI) is prohibited to issue bonus shares
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