Value Added Tax

Fuel price cut by Rs 2.50 to be effective from midnight; government asks oil companies to absorb Re 1

Price cut in states like Gujarat and Maharashtra would be Rs 5 after they matched the announcement with a similar reduction in local sales tax or VAT rates

Bharat Bandh today: Petrol and diesel prices scale new highs; touch Rs 80.73 per litre and Rs 72.83 per litre in Delhi

Opposition parties have called for a nation-wide 'Bharat Bandh' on Monday to protest against the spiralling fuel prices.

Rajasthan govt announces 4% cut in VAT on petrol and diesel ahead of Bharat Bandh; prices to go down by Rs 2.5 per litre

VAT on petrol will be reduced from 30 to 26 per cent and on diesel from 22 to 18 per cent, Raje announced at a public meeting organised in Rawatsar in Hanumangarh district as part of her 'Rajasthan Gaurav Yatra'.

Crocs will shut company-owned manufacturing plants; US footwear maker to beef up investments in India

Given the scale of its business in India, footwear maker Crocs doesn't see local manufacturing as economically viable as yet.

GST Council to discuss annual return forms on 21 July; experts expect reconciliation with IT returns

The revenue officers have prepared a draft of the annual returns form, which will be deliberated by the GST Council chaired by Union finance minister

GST Council to discuss annual return forms on 21 July; experts expect reconciliation with ITR

The format for annual returns and audit is likely to be approved by the GST Council in its meeting on 21 July and industry expects that there could be some reconciliation with annual IT returns as the government aims to check tax evasion.

One year of GST: The roller-coaster ride is over and businesses are now prepping to switch to cruise control

If voluntary courting of GST by SMEs can swell the revenue kitty, robust self-policing can add much more to the government's coffers.

GST and demonetisation will improve tax collection, broaden tax base in India, says Moody's

Reforms such as GST and demonetisation will improve tax collection and broaden the tax base in India overtime, Moody's Investors Service said

Govt keeping close eye on international oil prices, says Union minister Dharmendra Pradhan; rules out excise duty cut

With petrol and diesel prices touching multi-year highs, oil minister Dharmendra Pradhan said the government is keeping a close eye on international prices

Revenue dept launches probe against 4 PSBs and ATM service providers for alleged tax evasion

The DGGSTI has launched an investigation into alleged collusion between some banks and ATM service providers to avoid payment of value added tax (VAT)