FHRAI urges the Finance Ministry to rationalise the GST regime for India’s hospitality sector, seeking regularisation of past dues, restoration of ITC benefits, and delinking of F&B GST rates from hotel tariffs.
ICAI announces a last opportunity for members to submit the MEF 2025–26 application on 16th & 17th October 2025. Apply via meficai.org before the final deadline.
India's net direct tax collections surged 6.3% to Rs 11.89 lakh crore as of October 12, 2025, driven by steady corporate earnings and lower refunds. Gross collections reached Rs 13.92 lakh crore, per CBDT data.
Government reviews Black Money Act; committee to assess harsh penalties, legal overlaps with the Income Tax Act, and challenges in enforcement.
Income tax refunds drop 16% as the government tightens fraud detection checks; taxpayers face longer verification for high-value claims.
Uttar Pradesh State Tax Department has uncovered a fake firm, M/s Kumar Service, in Lucknow that fraudulently claimed Rs 2.11 crore Input Tax Credit using forged documents.
The recent GST exemption on life insurance premiums may limit insurers' Q2 profits despite a 14.8% rise in new business premiums in September 2025.
The Bombay High Court has granted an interim stay on the 18% GST rate for restaurants inside premium hotels, challenging the tax disparity with standalone eateries taxed at 5%.
Gujarat High Court directs CBDT to extend ITR filing deadline for audit cases by one month, offering relief to taxpayers and professionals.
Income Tax Dept updates e-filing portal: Track exactly when AO/CIT(A) views your submissions, enhancing transparency in faceless assessments & appeals.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
IDT LIVE Exam Oriented Batch | May 2026, Sept 2026 & Jan 2027
CAclubindia
