CAclubindia News
DGGI Arrests Three for Rs 16.96 Crore Fake Invoice & ITC Fraud
11 February 2025 at 08:53DGGI, Bhubaneswar Zonal Unit, has arrested three individuals for their alleged involvement in issuing fake invoices and fraudulently passing on Input Tax Credit (ITC) amounting to Rs 16.96 crore without any actual supply of goods.
CBIC Issues Guidelines on GST Appeals for Interest & Penalty Waiver Under Section 128A
10 February 2025 at 08:49The Central Board of Indirect Taxes and Customs (CBIC) has issued Instruction No. 02/2025-GST, clarifying the procedure for handling departmental appeals related solely to interest and penalties under Section 128A
FM Sitharaman Expects Durable Consumption Recovery
10 February 2025 at 08:49Finance Minister Nirmala Sitharaman on Saturday expressed optimism about a durable recovery in consumption, driven by fiscal and monetary policy measures.
CBDT Amends IT Rules 2025: New Investment & Compliance Norms for Infrastructure Debt Funds
10 February 2025 at 08:49The Central Board of Direct Taxes (CBDT) has issued the Income-tax (Third Amendment) Rules, 2025, introducing crucial updates to Rule 2F of the Income-tax Rules, 1962.
GSTN Rolls Out Biometric Aadhaar Authentication for GST Registration in Maharashtra & Lakshadweep
08 February 2025 at 13:54Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Maharashtra and LakshadweepDear Taxpayers,This is to inform taxpayers about recent developments concerning the application process for GS
Union Cabinet Approves New Income Tax Bill: Key Highlights and Expected Changes
08 February 2025 at 09:02The Union Cabinet on Friday approved the new Income Tax Bill, as per sources. The bill is set to replace the Income Tax Act, 1961 and aims to simplify and modernize India's tax system while making compliance easier for taxpayers.
RBI Cuts Repo Rate by 25 bps to 6.25% After 5 Years
08 February 2025 at 08:52The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has unanimously decided to reduce the policy repo rate by 25 basis points, bringing it down from 6.50% to 6.25%. Consequently, the Standing Deposit Facility (SDF) rate is set at 6.00%,
Hyderabad IT Professionals Caught in Rs 110 Crore Tax Refund Scam Using Fake Political Donations
08 February 2025 at 08:52The Income Tax department in Hyderabad has uncovered a massive tax fraud scheme involving IT professionals who falsely claimed tax refunds by making fraudulent donations to registered unrecognised political parties (RUPPs).
Income Tax Cut Signals Strong Economy, Says FM Nirmala Sitharaman
08 February 2025 at 08:52Income Tax Cut Signals Strong Economy, Says FM Nirmala Sitharaman
CBI Books IRS Officer, 6 CAs for Leaking Sensitive Faceless Assessment Data
08 February 2025 at 08:52CBI on Thursday conducted searches across 18 locations nationwide after registering a case against an Indian Revenue Service (IRS) officer and several Income Tax (IT) officials for allegedly sharing sensitive data related to pending tax assessments
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