GST
Due to a system-related glitch, Form GSTR-3A notices have been inadvertently issued in certain cases where they were not applicable — including instances involving taxpayers whose registrations had been cancelled prior to the Financial Year 2024–25.
GST officers have uncovered fake input tax credit (ITC) claims of Rs 15,851 crore in the April-June quarter of current fiscal, a 29 per cent jump over the year-ago period, even though the number of fake firms detection was less Y-o-Y, officials said.
Lapses in registrations at tehsils lead to Rs.5000 crore tax evasion a year in Haryana
The Income tax (I-T) department has estimated tax evasion amounting to over Rs. 5,000 crore each year after it has discovered that permanent account numbers (PAN) of buyers and sellers are not being entered into the software during registrations at the tehsil offices of the state.
Parliamentary panel report on new Income Tax Bill, 2025 to be tabled in Lok Sabha on July 21
A report of the parliamentary committee set up to scrutinise the new Income Tax Bill, 2025, which would replace the six-decade old Income Tax Act, is scheduled to be tabled in the Lok Sabha on Monday (July 21, 2025).
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