CAclubindia News

CBI Arrests CGST Superintendent and Tax Advocate for Rs 1 Lakh Bribe in GST Penalty Waiver Case

12 June 2025 at 09:14

CBI 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.

Posted in GST | 2259 Views

GSTN Issues Advisory as Over 3 Lakh Amnesty Applications Filed Under Section 128A

12 June 2025 at 09:10

GSTN 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.

Posted in GST | 9231 Views

FEMA Amendment 2025: Bonus Shares Permitted for Foreign Investors in Restricted Sectors

12 June 2025 at 09:05

The 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

Posted in Others | 498 Views

Income Tax Department Releases Common Offline Utilities for ITR-1 and ITR-4 for AY 2025-26

12 June 2025 at 09:03

The Income Tax Department has released the Common Offline Utility (COU) for filing Income Tax Returns (ITR-1 and ITR-4) for the Assessment Year 2025-26

Posted in Income Tax | 255 Views

Sikkim-Based Units Under CGST Scanner for Rs 1,032 Crore GST Refund Irregularities

11 June 2025 at 09:24

Several manufacturing units in Sikkim have come under the scanner of the CGST department for allegedly misusing the Scheme of Budgetary Support, 2017

Posted in GST | 630 Views

Centre Mulls Tax Relief for Banks on NPA Interest Income

11 June 2025 at 09:20

The Indian government is currently reviewing a proposal to amend the Income Tax Act to align the definition of NPAs with that of the RBI - a move that could significantly ease tax burdens for banks and financial institutions.

Posted in Income Tax | 225 Views

Income Tax Department Cracks Down on Dubious Political Donation Claims Under Section 80GGC

11 June 2025 at 09:18

The Income Tax Department, in a bid to curb misuse of tax deductions on political donations, has intensified scrutiny of claims made under Section 80GGC of the Income Tax Act

Posted in Income Tax | 2358 Views

CBIC Clarifies HSN Code Rule: Mandatory for B2B, Optional for B2C Below Rs 5 Crore Turnover

11 June 2025 at 09:14

The Central Board of Indirect Taxes and Customs (CBIC) has issued a crucial clarification via its official X handle regarding the applicability of HSN codes in Table 12 of GSTR-1.

Posted in GST | 9996 Views

ICAI Releases Schedule for CA Intermediate Mock Test Papers Series I & II for September 2025 Exams

11 June 2025 at 09:10

ICAI, through its Board of Studies (Academic), has officially announced the commencement of Mock Test Papers (MTP) Series - I and II for students appearing in the CA Intermediate September 2025 Examinations.

Posted in Students | 1377 Views

GST Portal Resolves Validation Issue for QRMP Taxpayers Filing Refund Applications

10 June 2025 at 15:46

In a significant update for taxpayers under the Quarterly Return Monthly Payment (QRMP) scheme, the GSTN has resolved a system-level validation issue that previously hindered refund application filings on the GST Portal.

Posted in GST | 1347 Views