Indirect Tax

Showing of 1 - 20 from 97 results
Indirect Tax - Total results - 97
Policy flip-flop on e-commerce: Preferential pricing to gain some market share has to be stopped in its tracks
Business

Policy flip-flop on e-commerce: Preferential pricing to gain some market share has to be stopped in its tracks

The government's recent flip-flop on opening of e-commerce to the so-called “non-essential” goods is just one of the many such flip-flops that the Government of India has made in the last 15 years on policies relating to modernisation of India’s retail sector

Coronavirus Outbreak: Centre releases Rs 14,103 cr GST compensation to states; more to be released soon
Business

Coronavirus Outbreak: Centre releases Rs 14,103 cr GST compensation to states; more to be released soon

In a bid to provide further relief to states amid the coronavirus outbreak, the finance ministry has released about Rs 34,000 crore in two phases to states as compensation for their revenue loss in the goods and services tax (GST) regime

Vivaad Se Vishwas scheme to help save time, money in fighting tax disputes, says Finance Minister Nirmala Sitharaman
Business

Vivaad Se Vishwas scheme to help save time, money in fighting tax disputes, says Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Monday said the direct tax dispute resolution scheme announced in Budget will be of great help to people as they will be able to save time and money spent in fighting cases

Budget 2020: Govt stares at tax shortfall of Rs 2 lakh cr on faltering economy; room for personal income tax relief limited
Business

Budget 2020: Govt stares at tax shortfall of Rs 2 lakh cr on faltering economy; room for personal income tax relief limited

The exchequer was shaved off Rs 1.45 lakh crore as the government slashed corporate tax rates up to 10 percentage points, the biggest reduction in 28 years.

Centre releases Rs 35,298 cr GST compensation to states; govt will not renege on promise, says Nirmala Sitharaman
Business

Centre releases Rs 35,298 cr GST compensation to states; govt will not renege on promise, says Nirmala Sitharaman

The GST Council, the highest decision-making body for indirect tax, is slated to hold its meeting on 18 December.

Govt unlikely to go for personal income tax cut amid fiscal stress, lower tax realisation
Business

Govt unlikely to go for personal income tax cut amid fiscal stress, lower tax realisation

The government is unlikely to moderate personal income tax rates for the rich due to fiscal stress on account of lower tax realisation amid a slowdown in the economy, sources said

Pendency of indirect tax appeal cases down 61% in 2 years: MoS Finance Anurag Thakur
Business

Pendency of indirect tax appeal cases down 61% in 2 years: MoS Finance Anurag Thakur

The pendency of appeal cases related to indirect taxes in the Supreme Court, High Court and CESTAT has reduced 61 percent to 1.05 lakh in almost 2 years, Parliament was informed on Tuesday

GST has come as a challenge for CAG as huge numbers are to be worked, says Rajiv Mehrishi
Business

GST has come as a challenge for CAG as huge numbers are to be worked, says Rajiv Mehrishi

GST also offers an opportunity as the data is available on a single platform making it possible to do a 100 percent audit.

Direct tax collection exceeds target in FY19, pegged at Rs 13.80 lakh cr in FY20; mop-up from customs crosses target
Business

Direct tax collection exceeds target in FY19, pegged at Rs 13.80 lakh cr in FY20; mop-up from customs crosses target

As per the 2019-20 Budget estimates, out of the Rs 13.80 lakh crore direct taxes, the government aims to raise Rs 7.60 lakh crore from corporate tax and Rs 6.20 lakh crore from PIT.

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.

Indirect tax mop-up in current fiscal may fall short by Rs 90,000 cr, says SBI research report
Business

Indirect tax mop-up in current fiscal may fall short by Rs 90,000 cr, says SBI research report

According to the Budget Estimate, the government proposed to mop up Rs 7.4 lakh crore from the Goods and Services Tax (GST) and Rs 2.6 lakh crore from Union excise duties.

Indirect tax evasion of Rs 29,088 cr detected during April-October by investigation arm of finance ministry
Business

Indirect tax evasion of Rs 29,088 cr detected during April-October by investigation arm of finance ministry

Of this, the Directorate General of GST Intelligence (DGGI), which is the enforcement agency for checking indirect tax evasion, has detected evasion of goods and services tax (GST) worth Rs 4,562 crore in 571 cases

Small-scale units dwindling in the wake of GST isn’t a good omen, feather touch taxation will assuage them
Business

Small-scale units dwindling in the wake of GST isn’t a good omen, feather touch taxation will assuage them

The GST scheme seems to have unwittingly left the small-scale units on the wrong side---they have been for the first time made to feel the heat of taxation

Five structural reforms govt must bring to clear the way for GST bandwagon; tax framework is too control-oriented
Business

Five structural reforms govt must bring to clear the way for GST bandwagon; tax framework is too control-oriented

the Indian GST compliance framework is designed to act more as a watchdog than as a facilitator of information

GST anniversary: Piyush Goyal advises consumers to ask for bills to check tax evasion; helpline for complaints in the works
Business

GST anniversary: Piyush Goyal advises consumers to ask for bills to check tax evasion; helpline for complaints in the works

On completing a year of GST, Piyush Goyal advises consumers to insist on bills for every purchase to check tax evasion and reduce tax rate on each item by as much as 4-5 percent.

One year of GST: It’s been a bumpy ride for the restaurant industry over the past 12 months
Business

One year of GST: It’s been a bumpy ride for the restaurant industry over the past 12 months

The imposition of a restriction on availing of ITC is not in line with the basic underlying objective of GST

One year of GST: Indirect tax regime is a great success; has led to growth in GDP, says Adi Godrej
Business

One year of GST: Indirect tax regime is a great success; has led to growth in GDP, says Adi Godrej

India’s gross domestic product (GDP) grew at 7.7% in the fourth-quarter of the 2017-18 financial year and that was because of GST, believes Adi Godrej

'Modi's GST, demonetisation wildly positive measures, always goes against interests of the entrenched', says Warburg Pincus boss Chip Kaye
Business

'Modi's GST, demonetisation wildly positive measures, always goes against interests of the entrenched', says Warburg Pincus boss Chip Kaye

India’s Goods and Services Tax (GST), the country’s most ambitious indirect tax reform since independence is a “wildly positive” measure for the medium to long term and those who attack it are probably doing so because the nature of game changing reform is that it goes against the interests of the “entrenched”, Chip Kaye

GST council to discuss simplifying returns on 4 May, converting GSTN into government company on agenda
Business

GST council to discuss simplifying returns on 4 May, converting GSTN into government company on agenda

Finance Minister Arun Jaitley-chaired GST Council will meet on 4 May to discuss a simpler return form and amendments required in indirect tax regime rules

First case of GST fraud: Two directors arrested for alleged tax evasion of Rs 7.2 crore
Business

First case of GST fraud: Two directors arrested for alleged tax evasion of Rs 7.2 crore

Directors of two companies were on Thursday arrested by the Goods and Services Tax authorities here for alleged tax evasion to the tune of over Rs 7 crore, in what could be the first arrests under the new indirect taxation regime