Notifications

The Ministry of Finance has issued Customs Notification No. 44/2025 to amend and extend specific entries in earlier customs exemption notifications from 2017, 2018, 2020, and 2021.

Govt notifies Aligned Custom Exemptions for SWS, AIDC, Health Cess [Read Notification]

Articles

The committee concluded that the auditor failed to show due diligence and did not report the irregularities regarding the discounting of LCs and the fraudulent methods used by the branch in his audit reports

ICAI Fines Auditor Rs 2 Lakh for Failing to Flag Rs 29 Crore Bank Fraud in Audit Report

News

A Saharanpur businessman, Bharat Bhushan, was arrested for allegedly evading Rs. 2.76 crore in GST through fake bills and bogus ITC claims.

Businessman Arrested in Saharanpur for Rs. 2.76 Crore GST Fraud

Circulars

The Employees’ Provident Fund Organisation (EPFO) has issued new guidelines to promote fairness, transparency, and accuracy in its internal audit process.

EPFO Issues New Guidelines to Ensure Fairness and Transparency in Audit Process

The ICAI Disciplinary Committee (Bench-II) has dismissed a complaint filed by the ROC, Mumbai, ruling that the Chartered Accountant exercised due diligence while certifying company incorporation documents.

ICAI Slams 5-Year-Late ROC Inspection: Clears CA in Alleged False Certification Case

Judgement

Tribunal holds that additions treating certain repair bills as bogus purchases and adhoc percentage disallowances on salary and car expenses cannot be sustained in absence of contrary evidence.

ITAT Allows Appeal; Deletes Additions on Bogus Purchases and Adhoc Expense Disallowances

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