The Institute of Chartered Accountants of India (ICAI) has released the updated User Manual of the UDIN Portal (Version 1.2), incorporating several functional enhancements aimed at improving usability, compliance, and verification efficiency. The revised manual, reviewed on December 15, 2025, provides detailed guidance on UDIN generation, bulk uploads, …
The Uttar Pradesh State Tax Department has uncovered a fake firm allegedly created using forged documents in Lucknow. The bogus entity, registered under the name M/s Kumar Service, reportedly availed fraudulent Input Tax Credit (ITC) worth Rs 2.11 crore, causing significant revenue loss to the government. …
The Ministry of Heavy Industries has officially announced that it will discontinue issuing GST Concession Certificates for the purchase of vehicles by Persons with Orthopaedic Physical Disability (PwOPD). This decision follows a clarification issued by the Ministry of Finance (Department of Revenue – Tax Research Unit) through …
Following the rollout of recent GST reforms, India’s non-life insurance industry witnessed steady growth in September 2025, driven by improved sentiment in the general and health insurance segments. According to data released by the General Insurance Council (GIC), general insurers’ gross direct premium income rose marginally by …
In a major crackdown on tax evasion, officials from the Directorate General of GST Intelligence (DGGI) have arrested a chartered accountant and an advocate from Sonepat district, Haryana, for their alleged involvement in a Rs 79.18 crore tax evasion scam linked to forged carpet billing. The …
Several private insurers in India have reduced distributor payouts by 15-18% to offset losses from the removal of Input Tax Credit (ITC) under GST, prompting industry associations and agents to escalate the issue with IRDAI and the Finance Ministry. Industry insiders warn that the current GST framework, if unadjusted, could …
In the aftermath of the government’s decision to completely remove 18% GST on retail life, health and accident insurance policies, several private insurers have reduced agent commissions by 18%, sparking backlash from distributors who say the move undercuts their livelihood and threatens the insurance outreach network. …
Following the Centre’s landmark decision to waive the 18% GST on individual life and health insurance, the sector is witnessing a strong surge in consumer interest and policy enquiries. The tax exemption, part of the broader GST 2.0 reforms that took effect on September 22, 2025, appears to have …
Finance Minister Nirmala Sitharaman has clarified in Parliament that individual residents living in apartments are not liable to comply with Goods and Services Tax (GST) regulations, even if they pay monthly maintenance fees above Rs 7,500. The compliance responsibility rests solely with the apartment associations, not the …
