May 06, 2021 05:52 PM IST
Tax-related associations say the department has issued notices even to many businesses which are exempt from service tax for the year 2015-16. Experts say that not all differences in data between income tax and service tax amount to tax evasion.
- May 06, 2021 02:44 PM IST
- May 04, 2021 07:28 PM IST
Many states, including Delhi, Punjab and Chhattisgarh, want GST to be exempted temporarily on devices such as ventilators, concentrators, and life-saving drugs like Remdesivir.
- May 03, 2021 08:06 PM IST
While drugs like Remdesivir, Tocilizumab, Favipiravir and others are exempt from customs duties as well as IGST, there is still no clarity on the GST they would attract when manufactured in India.
- May 02, 2021 04:35 PM IST
- Apr 29, 2021 12:28 PM IST
The Centre has decided to open up the vaccination drive for everyone above 18 from May 1 onwards.
- Apr 23, 2021 03:27 PM IST
Industry tells government that more handholding is required to clear tax related confusion on the ground. Also calls for tax compliance deadline to be extended.
- Apr 19, 2021 10:18 AM IST
States are demanding GST exemption of crucial drugs and equipment used in COVID-19 treatment, such as remdesivir, medical grade oxygen used in oxygen cylinders, and related supplements.
- Apr 13, 2021 12:18 PM IST
Out of the total provisional indirect tax collections, custom duty collections came in at Rs 1.32 lakh crore, excise and service tax collections came at Rs 3.91 lakh crore, while the net GST collection for the centre stood at Rs 5.48 lakh crore.
- Apr 06, 2021 09:48 PM IST
While data points like GST, housing and vehicle sales indicate that the economy is still on a strong path to recovery, industrial production and manufacturing sentiment numbers show that there is still a cause of concern. As COVID numbers spike again, Moneycontrol takes a look at some key high-frequency data.
- Apr 01, 2021 02:10 PM IST
A 27 percent year-on-year growth has been recorded in the collection of GST last month.
- Mar 24, 2021 03:31 PM IST
Centre and states collectively collect over Rs 5 lakh crore tax on petroleum products, Sushil Modi told the Rajya Sabha while participating in a discussion on the Finance Bill 2021.
- Mar 23, 2021 04:44 PM IST
Anurag Thakur, during Question Hour, said this could be possible on the back of the measures taken by the government to boost economic activities over the last year to deal with the COVID-19 pandemic.
- Mar 17, 2021 10:45 AM IST
Under the GST regime, luxury cars are taxed under the 28 percent slab along with an additional cess of up to 25 percent.
- Mar 16, 2021 10:45 PM IST
Income tax assessments are being done in a faceless manner except in certain conditions and till March 10, a total of 82,072 assessment cases have been completed in a faceless manner, he added.
- Mar 15, 2021 05:29 PM IST
The state governments may need to utilise as much as 70-90 percent of their enhanced borrowing limits for FY2022 to meet the shortfall.
- Mar 10, 2021 08:34 AM IST
In a written reply to a question in the Rajya Sabha, Anurag Thakur said the GST Council had so far not recommended placing GST on petrol and diesel.
- Mar 09, 2021 06:33 PM IST
A nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit (ITC) fraudulently on the strength of fake/bogus invoices is being carried out, she said in a written reply to the Rajya Sabha.
- Mar 05, 2021 02:22 PM IST
The bench further highlighted that the scheme was “policy intervention" by the government and that “the terms on which the amnesty scheme was executed is in the realm of a policy decision."
- Mar 05, 2021 10:51 AM IST
At present, every state has its own way of taxing fuels, while the Centre also collects its own duties and cess.
- Mar 02, 2021 09:01 AM IST
Based on investigation, it appeared that PSR Metals was involved in using bazaar scrap to manufacture battery lead and was using the input tax credit of fresh batteries while clearing these new batteries without issuance of invoices.
- Mar 01, 2021 05:53 PM IST
GST collection in February stood at Rs 1.13 lakh crore, 7 percent higher year-on-year, but lower than an all-time high of nearly Rs 1.20 lakh crore in January, official data showed on March 1.
- Feb 28, 2021 01:35 PM IST
"It will be a good move, but the decision rests with the GST Council," Subramanian said during a recent interaction with FICCI FLO members.
- Feb 25, 2021 11:27 AM IST
Here is all you need to know about the Bharat Bandh called by CAIT on February 26
- Feb 22, 2021 08:38 AM IST
In its letter to the prime minister, the Confederation of All India Traders (CAIT) called for setting up of a "special working group" at the central level comprising senior officials, CAIT representatives and independent tax experts to review the GST structure and make recommendations to the government.