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Indirect taxes News

10 Jan 2024

Interim Budget 2024: Key Budget Terms And Terminology You Should Know

Here we are decoding such budget-related terminology in easy and simple language with their meanings.

28 Dec 2018

GST evasion worth Rs 38,896 crore detected during April-October

The government has detected GST evasion worth Rs 38,896 crore in 6,585 cases in the April-October period of 2018-19, Parliament was informed Friday.

Coal India Limited

06 May 2017

Coal India to engage tax consultant to get ready for GST

Coal India, the largest coal producer in the world, is engaging a tax consultant to assist the miner and its subsidiaries in getting ready for the Goods and Services Tax (GST) and indirect taxes for the miner.

Asian Development Bank

04 May 2017

Indian market should be more deregulated, FDI friendly: ADB

The Asian Development Bank (ADB) today lauded Prime Minister Narendra Modi's effort of integrating indirect taxes through the GST, even as it wants the Indian market to be more "deregulated" and FDI friendly to realise the true potential.

04 Apr 2017

Govt exceeds FY17 tax collection target at Rs 17.10 lakh cr

The government has exceeded the tax collection estimates for 2016-17 fiscal at Rs 17.10 lakh crore.

30 Jul 2016

'One nation one tax' will reduce taxes and introduce ease of doing business: FM Arun Jaitley

As the government gears up for a fresh push to get the long-pending GST law passed, Finance Minister Arun Jaitley today said the 'one nation, one tax' regime will reduce the taxation levels and also eliminate corruption.

05 Jul 2016

Relief for taxpayers: No recovery during pendency of stay

In a relief to tax payers, the government has asked taxmen not to proceed with recovery of a 'confirmed' demand in relation to indirect taxes during pendency of stay applications.

indirect tax collections

11 May 2016

Indirect tax collections up 41.8% at Rs 64,394 crore in April

Indirect tax collections for the month of April 2016 stood at Rs 64,394 crore registering a growth of 41.8 percent as compared to Rs 45,417 crore collected during the same period previous year.

06 Apr 2016

Tax collection in 2015-16 exceeds target by Rs 5,000 cr

Helped by buoyancy in indirect taxes, the government managed to surpass the total tax collection target for 2015-16 by Rs 5,000 crore at Rs 14.60 lakh crore.

Arvind Subramanian

16 Dec 2015

Tax reforms to help India get rid of 'tax terrorism' tag: CEA

Simplifying and eliminate corporate taxes as well as cleaning up of legacy issues will continue going forward, he added.

India's industrial activities

09 Dec 2015

Indirect tax collection grows by 34% in Apr-Nov period

Reflecting improvement in industrial activities, indirect tax collection jumped 34.3 percent to Rs 4,38,291 crore during the first eight months of current financial year.

10 Nov 2015

There will not be expenditure cut this year: Jaitley

Indirect tax collections have registered an increase of almost 36 percent in the first seven months of the current fiscal.

10 Nov 2015

Growth in indirect tax collection reflects robust growth: CEA

Growth in collection of indirect taxes in the first seven months of the current fiscal shows robust GDP expansion, Chief Economic Advisor Arvind Subramanian has said.

10 Oct 2015

High indirect tax revenue reflects robust growth: CEA

Growth in collection of indirect taxes in the first half of the current fiscal shows robust GDP expansion, Chief Economic Advisor Arvind Subramanian has said.

13 Sep 2015

GST deadline: Early winter session holds key for states' nod

It appears to be a race against time as the government mulls convening an early Winter Session of Parliament to ensure rollout of the ambitious nationwide indirect tax regime GST by April next.

03 Jun 2015

Service Tax: Penalty norms encouraging voluntary compliance

In case of voluntary payments along with interest, reduced penalty have been provided depending upon the stage of litigation i.e. Prior to issuance of show cause notice, after issuance of show cause notice but before adjudication or after adjudication.

05 May 2015

Central excise arrears rise to Rs 59,309 cr in FY'14: CAG

Tax arrears towards central excise rose to Rs 59,309 crore in 2013-14, from Rs 45,463 crore a year ago, government auditor CAG said on Tuesday.

28 Apr 2015

Tax dues from companies at Rs 4.85 lakh crore: Finance Ministry

Corporates owed over Rs 4.85 lakh crore approximately to the exchequer as outstanding tax demands, under direct and indirect taxes, towards the end of fiscal 2014-15, Parliament was informed on Tuesday .

per capita income

09 Feb 2015

Per capita income this year seen up 10% at Rs 7,378 a month

In the previous fiscal, the per capita income estimated to have grown by over 12 percent to Rs 6,699 (USD 107.75) per month, government data released on Monday showed.

22 Nov 2014

Jaitley against burdening salaried, middle class; may raise tax exemption limit

Finance Minister Arun Jaitley on Saturday said that he does not favour burdening the salaried and middle-class with more taxes but would go after the evaders in widening the net.

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