CAclubindia News

ED Raids 8 Locations in Rs 730 Crore Fake GST Scam Linked to 135 Shell Firms

09 August 2025 at 08:59

ED raids eight locations in Jharkhand, Kolkata, and Mumbai in a Rs 730 crore fake GST scam linked to 135 shell firms. Probe uncovers Rs 5,000 crore fake invoices amid rising ITC fraud cases.

Posted in GST | 2115 Views

Centre Plans Persuasion Strategy to Bring More Retail Traders Under GST

09 August 2025 at 08:55

The Centre plans a persuasion-based approach to bring more traders under GST, avoiding backlash from aggressive state drives using UPI data, while focusing on awareness and formalisation of small businesses.

Posted in GST | 2253 Views

ITR-5 Excel Utility for AY 2025-26 Released

09 August 2025 at 08:42

The Income Tax Department has released the Excel Utility of ITR-5 for the Assessment Year (AY) 2025-26.

Posted in Income Tax | 360 Views

Income Tax Bill 2025 Withdrawn, Fresh Version to Be Tabled in Lok Sabha on August 11

08 August 2025 at 17:15

The government will introduce a fresh version of the Income Tax Bill, 2025 in Lok Sabha on August 11, replacing the earlier draft to incorporate Select Committee recommendations and avoid confusion from multiple versions.

Posted in Income Tax | 2991 Views

CBIC Updates List of Authorised Officers for Food Imports Across 165 Locations

08 August 2025 at 09:08

CBIC updates list of authorised officers and adds 6 new food import points under the FSS Act, bringing total to 165, to strengthen compliance and inspections.

Posted in Custom | 1104 Views

Income Tax Bill, 2025 Likely to be Tabled in Parliament on 11th August 2025

08 August 2025 at 09:00

Income Tax Bill, 2025 likely to be tabled on Aug 11 aims to replace 1961 Act with simpler, shorter law. Key changes include single tax year, digital compliance and reduced litigation

Posted in Income Tax | 2415 Views

CGST Delhi South Commissionerate Uncovers Rs 16.30 Crore GST Evasion in 3 Firms, Key Accused Arrested

08 August 2025 at 08:49

The CGST Delhi South Commissionerate has detected Rs 16.30 crore GST evasion in three manpower and facility management firms. A key director was arrested and remanded to judicial custody as investigations continue.

Posted in GST | 171 Views

CBDT Grants Income Tax Exemption to Uttarakhand Pollution Control Board

08 August 2025 at 08:46

CBDT grants income tax exemption to Uttarakhand Pollution Control Board from AY 2025-26 under Section 10(46A), recognising its role in environmental protection...

Posted in Income Tax | 78 Views

Ministry of Finance Appoints Solomon Arokiaraj as Member of IFSCA Authority

08 August 2025 at 08:42

The Ministry of Finance has notified the appointment of Mr. Solomon Arokiaraj, Additional Secretary in the Department of Economic Affairs, as a Member of the International Financial Services Centres Authority (IFSCA).

Posted in Others | 126 Views

Accountant Hacks GST Portal of Greater Noida Firm, Steals Rs 1.80 Crore via Fake Invoices

07 August 2025 at 09:19

Accountant in Greater Noida booked for siphoning off Rs 1.80 crore using fake GST invoices worth Rs 10 crore. Fraud detected during audit; FIR filed under cheating, forgery & cybercrime laws.

Posted in GST | 10119 Views