GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.
Reminiscent of India's tryst with destiny at the mid-night of August 15, 1947, Parliament's historic Central Hall will host a function on the intervening night of June 30-July 1 to ring in the nation's biggest tax reform -- GST.
The much awaited Goods and Services Tax (GST) will be launched from mid-night of June 30-July 1, Finance Minister Arun Jaitley said on Tuesday.
Domestic air passengers will have to pay less at the airports, particularly the non-major ones, from the next month as the aviation regulator has brought down certain charges to the level of last December.
The government has issued a clarification regarding a message going viral on social media including WhatsApp regarding proposal to link Aadhaar with land records of the owners. The centre has termed the letter fake.
The government has roped in Bollywood megastar Amitabh Bachchan to promote Goods and Services Tax (GST), ahead of the sweeping tax reform's implementation scheduled from July 1.
The GST Council on Sunday relaxed return filing rules for businesses for the first two months of the rollout of the new indirect tax regime even as it stuck to the July 1 launch date.
Bankers are meeting from Monday to finalise their next course of action on six of the 12 bad loan accounts for immediate referral to NCLT after the RBI named the largest defaulters to face bankruptcy proceedings.
Explaining his tweet demanding for the dismissal of Goods and Services Tax-Network (GSTN) chairman Navin Kumar, Bharatiya Janata Party (BJP) leader Subramanian Swamy on Sunday said that delaying the GST was a major setback for India.
Come July 1, fire insurance premium may go up since the insurance regulator is trying to check the insurance players from deep discounting in premium to gain market share.
Industry chamber Assocham on Saturday demanded postponing GST implementation, saying that taxpayers will find it difficult to comply with the provisions of the new indirect tax regime as the IT network is not yet ready.
Now, you may not have to travel too far for getting your passport as the government has come up with a plan to open passport centres within a radius of 50 km.
The Centre has said it will ensure that steel products are not imported in the guise of utensils or finished products.
Net income tax collection till June 15 grew at a healthy 26.2 percent to Rs 1,01,024 crore from across the country as of June 15 from Rs 80,075 crore in the year ago period.
India on Friday joined the league of select countries like the US and Australia where fuel prices are revised on a daily basis.
India has raised the minimum purchase price for soybean to 3,050 rupees per 100 kg from 2,775 rupees.
India`s diesel imports this year may rise to the highest since at least 2011 as refiners shut down to upgrade their units to meet new fuel standards and as warmer temperatures spur demand, said five industry sources.
Switzerland on Friday ratified automatic exchange of financial account information with India and 40 other jurisdictions to facilitate immediate sharing of details about suspected black money, even as it sought strict adherence to confidentiality and data security.
Hasmukh Adhia, revenue secretary at the Finance Ministry, also said rules would be issued "soon" to deter unscrupulous businesses from exploiting the tax reform to gouge customers.
Switzerland's Federal Council will notify date from which automatic info exchange will begin while the decision is not subject to referendum.
Following the Reserve Bank of India (RBI) identifying 12 accounts that are responsible for 25 percent of non-performing assets (NPAs), the central bank on Friday said it has no plans to come out with a next list any time soon.