Revenue Department

The total number of ITRs for AY 2023-24 filed till 31st July are more than 6.77 crore, which is 16.1 per cent more than the total ITRs for AY 2022-23.

Budget 2023: Revenue dept in favour of further simplification of capital gains tax provisions

The revenue department is of the view that a further simplification of capital gains tax is "possible", and the measure could provide ease of compliance and "cleaning up" of the complex law.

Villagers attack team of revenue dept officials, cops in UP; 5 arrested

Five people have been arrested in connection with the incident which took place in Belsandi village under Patti police station area on Friday.

Exclusive| Budget to hold the reins on raising import duties, sources say

A slowly stabilizing trade deficit has given the government room to put off raising import duties at the moment, sources say.

Exporters unhappy with tax rebate rates under government's RoDTEP scheme

Exporters across sectors complaint that many products have been left outside the ambit of India's largest export incentive scheme, while experts say budgetary allocations and not trade needs decided rates.

RoDTEP scheme : Govt announces Rs. 12,400 crore outlay for tax refund of 8,555 export products

The government is betting on the scheme, a long time in the coming to make India's exports more competitive in the global arena. The tax refund rates revealed by the Commerce Department show that exporters will be given tax refunds in the range of 0.5-4.3 percent.

Explained | What is the RoDTEP export-promotion scheme that has now been fully launched ?

India's foremost export incentive scheme became fully active on August 17, eight months after it had first gone live. We take a deep dive into how RoDTEP will impact India's foreign trade in the near to long term and why the government took so long to announce the tax rebate rates.

Exclusive | Finance Ministry not in favour of SEZs selling in domestic market at reduced duties

As successive waves of COVID-19 make exports volatile, exporters and manufacturing firms inside Special Economic Zones (SEZs) want to sell their products in India's domestic market. While they point to goods from India's major trade partners coming in at reduced duties, in any case, the government is not convinced yet

Tarun Bajaj given additional charge of Secretary, Department of Revenue

Bajaj, the incumbent Secretary of Department of Economic Affairs, would be succeeding Dr ABP Pandey upon the latter's superannuation.

Top 25,000 GST payers of October yet to file returns in November, tax officers to send reminders

About 80 lakh sales return or GSTR-3B have been filed so far.

Revenue Department may cancel GST registration of 5.43 lakh firms for failing to file tax returns: Report

In order to monitor the activity of defaulters failing to file their monthly summary return of transactions (form 3B) in November, the Revenue Department has also asked the officials to follow up with 25,000 businesses

GST, I-T mop up in Q1 very encouraging, indicates economic recovery: Finance Secretary Ajay Bhushan Pandey

The Finance Secretary said that the Revenue Department wants to bring in self-compliance among taxpayers by making available data of all financial transactions via Form 26AS at the time of filing income tax (I-T) return.

DPIIT, revenue dept weigh options for more tax relaxations to startups: Official

Talking about the host of measures on which they are working, he said the DPIIT will be extending more funds this year to startups under the Fund of Funds scheme. It has provided over Rs 1,000 crore last year.

Finance Ministry implores banks to boost RuPay, UPI infra: Report

Non-complaint businesses would face a daily penalty of Rs 5,000.

Revenue department to look at quarterly GST revenues average for trend analysis

"The department will look at quarterly revenue trends to better gauge the revenue trend. The aim is to increase the average revenue collection from what we achieved last fiscal," a senior official told PTI.

Commodities@Moneycontrol: Sugar export duty likely to be scraped

Domestic consumption is estimated at 26 million tonnes, and markets are betting on 1.5 million tonnes of exports in the next 6-7 months.

Maharashtra to complete digitisation of 7/12 receipts by end of July 2017

The digitisation of the 7/12 receipts of 2.46 crore land title documents in Maharashtra, is expected to be over by the end of July 2017, instead of in May, as was envisaged earlier, a &#82

Tax evasion of more than Rs 1.37 lakh cr detected in last 3 yrs

The department said more than 245 benami transactions have been identified and provisional attachments of properties worth Rs 55 crore have already been made in 124 cases as per the amended benami transactions prohibition law which came into effect from November, 2016.

Increase in ready reckoner rates in Maharashtra; cost of buying up marginally

The state revenue department of Maharashtra recently hiked the ready reckoner rates, by an average rate of 5.86% across the state. In Mumbai, the ready reckoner rates have been increased by 3.95%, as opposed &#82

Illegal structures in Mumbai‘s CRZ to be demolished

The Mumbai suburban district administration will start the process of razing illegal structures in the Coastal Regulation Zone (CRZ) in Versova next week, an official said on March 5, 2017. The administration has identified &#82

CBEC asks tax officers to speed up GST migration

The Central Board of Excise and Customs, the apex policy making body for indirect taxes, in a communication to the field formations has asked the Zonal Chief Commissioners to submit a weekly progress report beginning March 6.

Demonetisation will widen tax base, Finance Ministry tells PAC

Demonetisation will lead to a wider tax base and lower interest rates, thus paving the way for "sustainable faster economic growth", the Finance Ministry has said.

Over 300 construction sites in Delhi penalised for pollution

Over 300 construction sites were penalised for violating dust pollution norms in Delhi, although the drive against open burning of waste did not gather as much steam. Analysis of data shared by the Delhi R

Expect tax incidence to remain same under GST depsite cess: M&M

The tax incidence will remain more or less the same under GST despite the cess, says Executive Director of M&M, Pawan Goenka. He along the management of several auto companies, discussed transitional issues on GST with Finance Minstry officials today

GST: Clarification likely on Centre's power to levy excise

The revenue department is likely to issue clarification on legality of levying excise duty by the Centre on various commodities till implementation of goods and services tax (GST) from April 1, 2017.