The collection for the April-July period is 19.5 percent of the Rs 9.80 lakh crore target from this segment for the entire 2017-18, the Finance Ministry said
Opposition today forced adjournment of the proceedings in the Rajya Sabha over what it called as the "biggest scam of this century" in the printing of two different sizes for the new currencies.
Union finance ministry said that the number of ITRs filed showed that substantial number of new tax payers have been brought into the tax net subsequent to demonetisation.
With pressure building up from states, the Goods and Services Tax (GST) Council will soon start publishing rates of various products to prod companies to pass on gains, including those from input tax credit
The government had been pitching for a rate cut to boost economic growth amid retail inflation falling to a historic low of 1.54 per cent in June
According to media reports, the government has stopped further printing of the recently printed Rs 2,000 notes.
The chief commissioner of GST (Delhi zone) has clarified that the tax department only wants to facilitate the process for shopkeepers and traders during the transition to the Goods and Services Tax (GST) regime.
The unit will act as a quick resource centre for central and state government officials to address their queries on the historic tax reform scheduled to be implemented from July 1
The Finance Ministry today said names of the 12 big defaulters identified by the RBI for initiation of bankruptcy proceedings will soon be made public
Putting an end on rumours of a possible deferment of the roll out of the Goods and Services Tax (GST), the government on Tuesday clarified that it will be implemented from July 1
To a query on suggestions/feedback received from trade and industry, Meghwal said the common concern among representations was related to SSI sector coming under GST net.
"If the RBI always agrees with Finance Ministry, it is superfluous. And if it doesn't, then it is obnoxious. So tensions will have to be accepted," Reddy said.
Asserting its autonomy, the six-member monetary policy committee (MPC) had unanimously declined a meeting with finance ministry officials ahead of the policy review
The government on Friday extended the date for filing declarations by black money holders about tax payment and deposits under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) till May 10, an official statement said.
Union Labour Minister Bandaru Dattatreya today said that the Finance Ministry has approved 8.65 per cent interest rate on Employees’ Provident Fund (EPF) for 2016-17.
For April-June, these have been lowered by 0.1 per cent across the board compared to January-March. However, interest on savings deposits has been retained at 4 per cent annually.
The government is not thinking of extending the roll-out date of the Goods and Services Tax (GST) beyond July 1, and businesses and traders must ensure preparedness by then, the Finance Ministry said on Thursday.
The Central Board of Excise and Customs (CBEC) will be reorganised for the implementation of the Goods and Services Tax (GST) system and renamed the Central Board of Indirect Taxes and Customs (CBIC) following parliamentary approval.
The Goods and Services Tax (GST) will be implemented from July 1 as all states have agreed on the implementation date, Economic Affairs Secretary Shaktikanta Das said on Tuesday.
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