CAclubindia News

PAN, Aadhaar Misuse Triggers GST Notices: Rs 145 Crore Fraud Hits Rural Victims

12 July 2025 at 09:17

Three individuals from Ajmer became unwitting victims in a Rs 145 crore GST fraud after their documents were misused to open fake firms in Mumbai. Transactions using their PANs and Aadhaar cards triggered GST notices and police inquiries.

Posted in GST | 7908 Views

CBDT Extends Tax Exemption Timeline for Sovereign Wealth and Pension Funds Till March 31, 2030

12 July 2025 at 08:55

CBDT extends tax exemption deadline for SWFs and PFs under Section 10(23FE) to March 31, 2030, boosting long-term infrastructure investment in India.

Posted in Income Tax | 1569 Views

DGGI Busts Rs 266 Crore GST Fraud Involving Six Shell Companies

12 July 2025 at 08:50

DGGI Bengaluru Unit uncovers six shell companies with fraudulent invoices worth Rs. 266 crore involving Rs. 48 crore fraudulently claimed Input Tax Credit; mastermind arrested

Posted in GST | 285 Views

ICAI Reconstitutes Expert Panel to Address Statutory Audit Queries pertaining to Auditing Aspects

12 July 2025 at 08:47

ICAI's Auditing and Assurance Standards Board has reconstituted its Expert Panel to address members' statutory audit queries for the 2025 audit season. The panel will offer technical guidance from 11th July to 30th September 2025.

Posted in Audit | 1674 Views

Income Tax Department Releases Excel Utilities for ITR-2 and ITR-3 for AY 2025-26

11 July 2025 at 10:34

The Central Board of Direct Taxes (CBDT) has released the Excel-based offline utilities for Income Tax Return (ITR) Forms 2 and 3 for the Assessment Year (AY) 2025-26.

Posted in Income Tax | 1872 Views

GST Fake Invoicing Scam Worth Rs 10.76 Crore Exposed in Rae Bareli

11 July 2025 at 09:48

Sadar Kotwali police in Rae Bareli arrest two men linked to a Rs 10.76 crore GST evasion case involving fake firms and bogus invoicing. The accused confessed to operating under a larger money laundering syndicate.

Posted in GST | 750 Views

CBDT Collects Rs 20,000 Crore in Q1 FY2025, Doubles Previous Year's Recovery

11 July 2025 at 09:40

The CBDT has collected Rs 20,000 crore in pending tax dues in Q1 of FY2025, doubling last year's figures. With a Rs 1.96 lakh crore target, recovery efforts are set to intensify.

Posted in Income Tax | 2025 Views

GSTAT Launches Comprehensive User Manual for Online Filing of Appeals and Applications

11 July 2025 at 09:26

GSTAT has released User Manual Version 2.6 to support taxpayers, officials, and legal representatives in using its upgraded e-Filing portal. The guide simplifies online registration, appeal filing, application re-filing, and document uploads.

Posted in GST | 2328 Views

ICAI Invites Chapter-Wise Feedback on CA Study Material for Foundation, Intermediate & Final Courses

11 July 2025 at 08:59

ICAI invites chapter-wise feedback on CA Study Material for Foundation, Intermediate, and Final levels. Submit suggestions by July 18, 2025, to help enhance the quality of ICAI's academic content.

Posted in Students | 17256 Views

PIB Warns Against Fake e-PAN Card Emails. Income Tax Department Warns of Phishing Scam

10 July 2025 at 09:21

PIB warns users against fake e-PAN card emails flagged as phishing scams. The Income Tax Department confirms it never requests personal info via email. Learn how to stay safe and report such fraud.

Posted in Income Tax | 1590 Views