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Income Tax Department sends e-mails to 1.72 lakh assessees over outstanding tax dues
Business

Income Tax Department sends e-mails to 1.72 lakh assessees over outstanding tax dues

The income tax department has sent e-mails to 1.72 lakh assessees, including start-ups, companies and individuals, who have outstanding tax demands as well as tax refunds asking them to provide as update on the payment

GST officers prodding businesses to deposit taxes by 31 March to meet fiscal target; govt likely to release data by 10 April
Business

GST officers prodding businesses to deposit taxes by 31 March to meet fiscal target; govt likely to release data by 10 April

The government had lowered the GST collection target for 2018-19 fiscal to Rs 11.47 lakh crore in the revised estimates, from Rs 13.71 lakh crore budgeted initially.

GST has been at receiving end of ill-informed, motivated criticism; govt could work towards a single standard rate, says Arun Jaitley
Business

GST has been at receiving end of ill-informed, motivated criticism; govt could work towards a single standard rate, says Arun Jaitley

With the GST transformation completed, we are close to completing the first set of rate of rationalisation, i.e. phasing out the 28% slab except in luxury and sin goods.

Arun Jaitley says GST standard rate to be fixed between 12-18% as revenues increase; claims sun setting on 28% slab
Business

Arun Jaitley says GST standard rate to be fixed between 12-18% as revenues increase; claims sun setting on 28% slab

The GST Council in its last meeting on Saturday cut rates on 23 items, thereby trimming the 28 percent slab.