CAclubindia News

Daily-Wage Labourer in Uttar Pradesh Receives Rs 9.3 Crore Tax Notice in Shocking GST Identity Fraud Case

08 July 2025 at 09:07

A daily-wage labourer from Lakhimpur Kheri district, Mohd Saeed, has received an income tax notice for Rs 9.3 crore turnover in the financial year 2020-21, despite having no involvement in any business activity.

Posted in GST | 2712 Views

Income Tax Refund Scam Busted: Indians Posing as Foreign Citizens to Evade Tax

08 July 2025 at 08:55

The Income Tax Department has uncovered a large-scale scam involving fraudulent refund claims by Indian taxpayers who falsely declared themselves as foreign citizens during IT return filing.

Posted in Income Tax | 2916 Views

Finance Ministry Grants Five-Year Exemption to IDFC First Bank from Shareholding Cap in Niraj Kakad Constructions

08 July 2025 at 08:48

The Ministry of Finance, on the recommendation of the Reserve Bank of India (RBI), has granted a five-year exemption to IDFC First Bank Limited from the provisions of Section 19(2) of the Banking Regulation Act, 1949.

Posted in Income Tax | 2205 Views

Finance Ministry Grants Income Tax Exemption to Rajasthan Housing Board Under Section 10(46A)

08 July 2025 at 08:45

In a significant relief to the Rajasthan Housing Board, the Ministry of Finance has granted income tax exemption under Section 10(46A)(b) of the Income-tax Act, 1961.

Posted in Income Tax | 261 Views

Multi-State GST Scam Uncovered: 5 Arrested in Rs 248 Crore Tax Evasion Case

07 July 2025 at 09:01

UP STF busts Rs 248 crore GST fraud using 100+ shell firms; five arrested from Rajasthan for running a multi-state fake invoice racket with stolen identities and bogus e-way bills.

Posted in GST | 759 Views

State Govt to Expand Amnesty Scheme for Pending Pre-GST Tax Arrears

07 July 2025 at 08:57

Maharashtra govt proposes amendment to recover Rs 25,000 crore in pre-GST tax dues from PSUs, banks, and infrastructure bodies under an expanded amnesty scheme...

Posted in GST | 17898 Views

SGST Launches Statewide Crackdown on Scrap Dealers to Curb GST Evasion

07 July 2025 at 08:51

Assam SGST conducts statewide raids on scrap dealers for GST evasion; Rs 90 lakh recovered in initial findings, crackdown aims to deter tax fraud and boost compliance.

Posted in GST | 456 Views

GoM on GST Revenue Forms Panel to Curb Tax Evasion and Boost Compliance

07 July 2025 at 08:47

Goa CM Pramod Sawant leads GoM meeting on GST revenue; a group of officers will analyze state-wise data and fraud patterns to enhance GST compliance and suggest policy changes.

Posted in GST | 1608 Views