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.
India takes the issue of defaulters very seriously, Finance Minister Arun Jaitley has said, indicating that he may raise the matter of liquor baron Vijay Mallya with his British counterpart.
The tax department clarified that the people above 70 years of age will be exempted from the process of verification post note ban, but the limit has been fixed at Rs. 2.5 lakh for other
A total of 167 bank officials have been suspended and 41 transferred for their involvement in irregularities relating to demonetisation, MoS for Finance Santosh Kumar Gangwar said in a written reply in the Rajya Sabha on Tuesday.
Union Finance ministry has asked its employees to refrain from criticising the government or its policies, failing which disciplinary action could be taken against them.
Finance Minister Arun Jaitley is expected to present the Budget 2017 on schedule today despite the death of former Union Minister and sitting Member of Parliament (MP) Ahamed’s death, government sources said today.
Announcing that GAAR will be implemented from April 1, the tax department today said it will not interplay with the investors’ right to choose a method of transaction and won't apply if routing of funds
The government is yet to take a final call on the recommendation of the high-powered chief ministers’ panel to levy a Banking Cash Transaction Tax (BCTT) on cash deals of Rs 50,000, the Finance ministry
The Central government has clarified that Co-operative Banks are not authorised to accept deposits under the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS).
Dr Brinda Jagirdar, Independent Economist Growth is now the dominant theme and the government needs to show visible proof of its intentions to kick start investment, give a push to growth and generate jobs.
Demonetisation will lead to a wider tax base and lower interest rates, thus paving the way for "sustainable faster economic growth", the Finance Ministry has said.
In the aftermath of the ban of high value currency notes, the Finance Ministry has informed Public Accounts Committee that no fake currency notes (FCNs) were seized by the agencies during the demonetisation drive from
The budget is not merely a financial document of the government that presents roadmap to be followed by ministries and departments while exercising their rights to pay out expenses from allocated funds for development works.
A day after the employee unions of the Reserve Bank of India expressed their resentment against alleged interference of the government in the central bank's affairs, the Finance Ministry today said that it fully respects
CII has demanded from government to lower the corporate tax rate to 18 per cent as more economic activities are entering the tax net post-demonetisation.
A day after the Union Cabinet cleared an Ordinance to make the possession of a large number of scrapped notes a punishable offence, the Finance Ministry on Thursday clarified that there will be no jail term for holding demonetised notes and the minim
The government is planning an ordinance to impose penalties on anyone found holding 'high amount' of the junked Rs 500 and Rs 1,000 notes beyond December 30 when the deadline to deposit them in banks
Government today clarified that payment towards tax, surcharge, penalty and deposit under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) can be made with demonetised high value notes.
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