CAclubindia News

IT Dept Begins Crackdown on Inoperative PANs: Rs 10,000 Fine for Each Transaction

09 June 2025 at 09:33

The Income Tax Department has launched a stringent crackdown on the use of in-operative Permanent Account Numbers (PANs), warning that individuals using such PANs for financial transactions may face penalties of up to Rs 10,000 per transaction.

Posted in Income Tax | 1 comments | 72996 Views

Rajnath Singh to Urge GST Relief with FM Sitharaman for Defence Start-Ups and MSMEs

09 June 2025 at 09:26

Defence Minister Rajnath Singh is expected to raise concerns with FM Nirmala Sitharaman over the 18% GST levied on grants provided to private companies for defence-related research and development (R&D).

Posted in GST | 1593 Views

Prayagraj Mahakumbh 2025 Boosts Uttar Pradesh's GST and VAT Collections by Rs 500 Crore

09 June 2025 at 09:22

The Prayagraj Mahakumbh 2025, one of the world's largest religious gatherings, not only witnessed an influx of 66 crore pilgrims over its 45-day duration but also delivered a substantial economic boost to the state of Uttar Pradesh.

Posted in GST | 165 Views

GSTR-3B Filing Alert: Auto-Populated Liability Becomes Non-Editable from July 2025

09 June 2025 at 09:17

The GSTN has announced that the auto-populated tax liability in Form GSTR-3B will become non-editable starting from the July 2025 tax period, which is to be filed in August 2025.

Posted in GST | 2 comments | 7581 Views

GSTN to Restrict Filing of Past Returns Beyond 3 Years Starting July 2025

07 June 2025 at 16:34

Starting July 2025, the GSTN portal will restrict filing of GST returns older than three years. Taxpayers are advised to reconcile and file pending returns promptly to avoid compliance issues.

Posted in GST | 1824 Views

Adani Group's Tax Contribution Rises 29% to Rs 74,945 Crore in FY25

07 June 2025 at 09:29

Adani Group paid Rs 74,945 crore in taxes and related contributions in FY25 - a 29% increase from last year. The voluntary Tax Transparency Report highlights direct, indirect, and global tax payments.

Posted in Income Tax | 1 comments | 1719 Views

Fake GST Officers Robbed Rs 29 Lakh from Accountant in Panipat

07 June 2025 at 09:22

An accountant from Panipat was robbed of Rs 29 lakh by imposters posing as GST officials near the Samalkha bypass. Police from Haryana and Uttar Pradesh have launched a joint investigation.

Posted in GST | 1815 Views

RBI Slashes Repo Rate by 50 bps to 5.50% in June 2025

07 June 2025 at 09:14

RBI cuts repo rate by 50 bps to 5.50% in June 2025 MPC meet to support growth; CPI inflation forecast lowered to 3.7%, GDP growth retained at 6.5%. Policy stance shifted to neutral.

Posted in Others | 198 Views

ICAI Releases Exposure Draft on Proposed Guidelines for Overseas Network for public comments

07 June 2025 at 09:14

ICAI releases Exposure Draft on Guidelines for Overseas Network by Committee for Aggregation of CA Firms (CACAF); invites public comments by June 27, 2025. Download and submit your views online or via email/post.

Posted in Professional Resource | 282 Views

GST 2.0: Finance Ministry Holds Talks with Industry on Simplifying Tax Structure

06 June 2025 at 09:12

The Finance Ministry has initiated consultations with industry stakeholders to address persistent concerns surrounding the GST and gather suggestions for streamlining the indirect tax framework.

Posted in GST | 2289 Views