India's direct tax collections for April-September rose 15.8 per cent to Rs 3.86 lakh crore, buoyed by a healthy growth in advance tax mop-up, the finance ministry said.
The government on Monday asked businesses to file final GST returns for the month of July by tomorrow as it ruled out any extension to the due date.
Arun Jaitley made the announcements after a day-long 22nd meeting of the GST Council that took note of the difficulties faced by various businesses.
The fourth bi-monthly monetary policy statement for 2017-18, to be released today, is being keenly awaited by all stakeholders.
The 2017-18 deficit -- the difference between revenue and expenditure -- has been pegged at Rs 5.46 lakh crore for 2017-18, as compared to the deficit of Rs 5.34 lakh crore for the last fiscal.
Since April last year, interest rates of all small saving schemes have been recalibrated on a quarterly basis. The RBI is scheduled to undertake monetary policy review on October 4.
In the discussions for raising capital investments, it also emerged that most of the PSUs have very low or no debt on their balance sheet which is reflected in their low debt to equity ratios.
Finance Ministry said that it is examining three reports on the quantum of black money held by Indians inside the country and abroad that were commissioned by UPA regime.
The Finance Ministry late last night notified the hike in quantum of cess to be levied on cars, following which the new rates came into effect.
About the directors and signatories of the over 2.09 lakh firms, the government said they would not be able to operate bank accounts of such companies till these entities are legally restored
Finance Ministry has sent three study reports on the quantum of black money held by Indians inside the country and abroad to a Parliamentary panel.
Minister of State for Finance Arjun Ram Meghwal also sought suggestions for betterment of capital and commodities market by 2020.
Finance Ministry will take a decision tomorrow on extension of the deadline for linking PAN with Aadhaar.
The government does not plan to reintroduce Rs 1,000 notes that were taken out of circulation by the demonetisation of high-value currency last November
The exercise of printing Rs 200 denomination notes is reportedly being undertaken to further improve the currency situation in the country.
The Economic Survey cited appreciation of rupee, farm loan waivers and transitionary challenges from implementing GST as the difficulties in achieving the growth levels
Defence, which accounts for about 30 per cent of the government's capital outlay, will see the spending rise from Rs 91,580 crore in the current fiscal to Rs 1,01,137 crore in the next one and Rs 1,11,706 crore in 2019-20.
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.
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