CAclubindia News
Chartered Accountant arrested by ED in Rs 792 Crore Falcon Invoice Discounting Scam
25 August 2025 at 08:36ED Hyderabad arrests CA Sharad Chandra Toshniwal in the Rs 792 crore Falcon invoice discounting scam for allegedly laundering funds. Probe reveals fake investment scheme, diversion of money and concealment of illicit assets
GST Rate Cuts to Cost Exchequer Rs 1.43 Lakh Crore, US Tariffs Threaten Growth
23 August 2025 at 09:37HSBC warns that GST rate revisions could cost India Rs 1.43 lakh crore, while US tariffs of 25-50% may lower GDP growth by up to 70 basis points. States face fiscal strain under FRBM limits.
GST Exemption on Health, Life Insurance Proposed; Experts Flag ITC Concerns
23 August 2025 at 09:28GoM proposes GST exemption on health & life insurance premiums. Experts warn of input tax credit challenges; final call with GST Council.
GST Burden on Private Security Firms Unjust, Says CAPSI in Letter to PM Modi
23 August 2025 at 09:17CAPSI urges PM Modi to review 18% GST on private security services, citing RCM disparity that impacts MSMEs and over 8.5 million workers.
56th GST Council Meeting Scheduled for 3rd to 4th September 2025
23 August 2025 at 09:06GST Council to hold its 56th meeting on Sept 3-4, 2025, in New Delhi. Key tax policy discussions expected; agenda details to follow.
GoM Backs Two-Slab GST Structure, Proposes 40% Rate on Luxury and Sin Goods
23 August 2025 at 08:53GoM accepts Centre's proposal for two GST slabs of 5% and 18%, with a new 40% rate on luxury and sin goods; states seek extra cess to protect revenue.
GST Rate Cut Proposal Raises Centre-State Tensions Over Revenue
23 August 2025 at 08:47PM Modi's plan to cut GST rates may cost states Rs 1.8 lakh crore annually, sparking fiscal tensions ahead of Diwali and Bihar elections.
GST Fraud Worth Rs 47.32 Crore Unearthed in Thane
23 August 2025 at 08:47Thane GST officials arrest man in Rs 47.32 crore ITC fraud; incriminating evidence seized, probe underway to identify more suspects.
President Gives Assent to The Income Tax Bill 2025 and The Taxation Laws (Amendment) Bill 2025
22 August 2025 at 09:26The President has given assent to the Income Tax Bill 2025 and the Taxation Laws (Amendment) Bill 2025, marking a major step in India's direct tax reforms aimed at simplifying compliance and strengthening tax administration.
CBDT Notifies Key Changes to Rule 21AIA with Section 10(4D) of Income Tax Act
22 August 2025 at 09:04CBDT notifies the Income-tax (Twenty-Fourth Amendment) Rules, 2025, revising Rule 21AIA on specified funds by omitting sub-rule (4) and redefining the term in line with Section 10(4D) of the Income Tax Act.
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