CAclubindia News

DGGI Arrests Tax Consultant and Trader in Rs 30 Crore Bogus GST ITC Racket

16 December 2025 at 09:22

DGGI arrests a Jamnagar-based tax consultant and trader in a Rs 30 crore bogus GST ITC fraud in Gujarat, uncovering fake firms, invoices and e-way bills.

Posted in GST | 1440 Views

Rising Incomes, GST Rationalisation Fuel Rural Consumption Revival in 2025

16 December 2025 at 06:51

India’s rural economy recorded a strong recovery in late 2025, driven by higher consumption, rising incomes, GST rate rationalisation and easing inflation, according to NABARD’s latest Rural Economic Conditions and Sentiments Survey.

Posted in GST | 105 Views

State GST Launches 10-Day Drive to Clear Pending GSTR-3B Returns

16 December 2025 at 06:51

The State GST department has launched a 10-day special drive across the Chhatrapati Sambhajinagar Zone to clear pending GSTR-3B returns of over 8,600 taxpayers, aiming to recover Rs 47.63 crore in SGST and improve compliance.

Posted in GST | 183 Views

ICAI Clears Advertising for CA Firms, Approves Global Networking Rules; UDIN Crosses 10 Crore

15 December 2025 at 09:27

ICAI announces landmark reforms allowing advertising by CA firms, approves global networking guidelines and reports UDIN crossing 10 crore.

Posted in Professional Resource | 6210 Views

IndiGo Faces Rs 58.75 Crore GST Penalty Notice Amid Ongoing Flight Disruptions

15 December 2025 at 06:44

IndiGo has received a Rs 58.75 crore GST penalty notice for FY21 from the Delhi South CGST Commissionerate. The airline says the order is flawed, will challenge it legally, and expects no impact on operations or financials.

Posted in GST | 219 Views

No Post-GST Compensation for Karnataka, Finance Ministry Tells Parliament

15 December 2025 at 06:44

The Union Finance Ministry has ruled out any new GST compensation mechanism for Karnataka, citing strong growth in GST collections and rising central fiscal transfers, even as the State faces challenges in stamp duty and registration revenues.

Posted in GST | 2799 Views

Supreme Court Denies 40% Tax Deduction to Statutory Corporations on Non-Lending Income

15 December 2025 at 06:44

Supreme Court rules that statutory corporations cannot claim the 40% tax deduction under Section 36(1)(viii) on income from dividends, deposits, or service charges, limiting the benefit strictly to profits derived from long-term financing activities.

Posted in Income Tax | 1029 Views

Income Tax Dept Detects Over Rs 1000 Crore Tax Evasion in Refex Group Searches

15 December 2025 at 06:44

The Income Tax Department has detected over Rs 1,000 crore in alleged tax evasion during search operations on Refex Group and its associates, uncovering bogus purchases, unexplained foreign investments and benami funding.

Posted in Income Tax | 189 Views

CBDT Nudges Taxpayers to Withdraw Bogus Donation Claims Using Data-Driven Tax Scanner

15 December 2025 at 06:44

CBDT has launched a data-driven NUDGE campaign to curb bogus tax deductions under Sections 80G and 80GGC.

Posted in Income Tax | 948 Views

ICAI Announces December 2025 Convocation Schedule Across Major Indian Cities

13 December 2025 at 16:49

The Institute of Chartered Accountants of India (ICAI) has announced the December 2025 Convocation schedule. Members enrolled between 16 July and 30 Nov 2025 and CA Final rank holders of Sept 2025 will be felicitated across multiple cities in India.

Posted in Students | 2634 Views