CAclubindia News

CBIC Appoints Commissioner for Adjudication of 700 Pending Customs Appeals Across Mumbai Zones

03 June 2025 at 09:23

The Central Board of Indirect Taxes and Customs (CBIC), in a significant move aimed at streamlining customs appeals and ensuring efficient adjudication, has issued Notification No. 39/2025-Customs (N.T.) dated May 30, 2025.

Posted in Custom | 1272 Views

Textile Trader Arrested in Rs 100 Crore Fake Invoice GST Scam

03 June 2025 at 09:21

In a major crackdown on GST fraud, the Directorate General of GST Intelligence (DGGI) has arrested a Surat-based textile trader for allegedly generating fake invoices worth Rs 100 crore to fraudulently claim ITC of Rs 15.19 crore.

Posted in GST | 681 Views

CBDT Notifies REC Ltd.'s Rs 5,000 Crore Zero Coupon Bond u/s 2(48) of IT Act

03 June 2025 at 09:18

The Ministry of Finance, Department of Revenue, CBDT, has issued Notification No. 52/2025 dated May 30, 2025, formally recognizing the "Ten Year Zero Coupon Bond" issued by REC Ltd. as a zero coupon bond under Clause (48) of Section 2

Posted in Income Tax | 618 Views

MCA to Launch 38 Final Company Forms on V3 Portal from July 14, 2025

02 June 2025 at 09:26

The Ministry of Corporate Affairs (MCA) is set to roll out the final set of 38 company e-forms on its upgraded V3 portal starting July 14, 2025, marking a major step forward in the government’s digital corporate governance initiatives.

Posted in Corporate Law | 2739 Views

Chartered Accountant Arrested for Accepting Rs 10 Lakh Bribe on Behalf of CGST Officer

02 June 2025 at 09:24

In a major anti-corruption move, the Punjab Vigilance Bureau has arrested a Chartered Accountant (CA), Gursewak Singh, red-handed while accepting a bribe of Rs 10 lakh.

Posted in GST | 2460 Views

Gross GST Revenue Jumps 16.4% in May 2025, Hits Rs 2.01 Lakh Crore Mark

02 June 2025 at 09:21

India's GST collections surged to Rs 2,01,050 crore in May 2025, marking a robust 16.4% year-on-year growth from Rs 1,72,739 crore in May 2024, according to provisional data released by the Ministry of Finance.

Posted in GST | 1290 Views

ICAI Embraces AI: Officers Equipped for Faster and Smarter Disciplinary Procedures

02 June 2025 at 09:18

ICAI has taken notable strides in integrating Artificial Intelligence into the professional development of Chartered Accountants.

Posted in Professional Resource | 1386 Views

FM Sitharaman Urges Tax Officials to Uphold Trust After GST Registration Complaint

31 May 2025 at 16:26

Union Finance Minister Nirmala Sitharaman on Saturday reiterated the responsibility of tax officials to serve taxpayers with "transparency and integrity," emphasizing the need for trust-building between the government and the public.

Posted in GST | 2808 Views

Indian Civil Accounts Service Rules, 2025 Released

31 May 2025 at 08:32

In a significant administrative reform, the Ministry of Finance (Department of Expenditure) has notified the Indian Civil Accounts Service (Group 'A') Rules, 2025, replacing the older 2006 rules.

Posted in Others | 1107 Views

CBDT Includes Sikkim in Section 80-IE Tax Deduction via Corrigendum