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.
The Reserve Bank will shortly issue Rs 10 denomination bank notes in the Mahatma Gandhi Series 2005.
The Lok Sabha on Wednesday passed the Finance Bill after various amendments presented by Union Finance Minister Arun Jaitley.
India came down by one slot and was ranked 131st among 188 countries on Human Development Index (HDI) 2016 released by the United Nations Development Programme (UNDP).
India's GDP growth is expected to slow to 6.7 percent in the January-March quarter of this fiscal year as overall activity is yet to bounce back to levels seen prior to demonetisation, says a Nomura report.
India is exploring setting up a new payments mechanism for trade with Iran, after its old sanctions workaround broke down, as state banks remain fearful of handling payments from Tehran in case the United States imposes a fresh financial embargo.
Government is considering imposing import duty on wheat to protect farmers' interest, Agriculture Secretary said on Wednesday.
Finance Minister Arun Jaitley said on Wednesday that the government was hoping to implement the Goods and Services Tax (GST) by July 1 after the enabling Bills get Parliament`s nod in the current budget session.
The Railway ministry has posted the rate list on its Twitter account while asking people to lodge a complaint if they are overcharged.
Come April and a passenger can avail the opportunity of travelling in Rajdhani or Shatabdi trains even if he or she has booked tickets in other mail/express trains for the same destinations.
The government has completed investigation against persons named in HSBC and Liechtenstein banks for black money stashed abroad and made an assessment totalling around Rs 15,000 crore in the two cases.
The domestic consumption story is set to treble to USD 4 trillion by 2025 as rising affluence levels drive changes in consumer behaviours and spending patterns that have big implications for companies, says a report.
The apex court has asked Centre and RBI to file their affidavits in two weeks.
NITI Aayog will prepare a list of 10 big infrastructure projects that can be developed under the public private partnership (PPP) mode.
As many as five sectors including defence, ports and coal have failed to attract any foreign direct investments during the April-December period of the current fiscal, Parliament was informed on Monday.
The implementation of Goods and Services Tax (GST) is likely to be fiscally neutral and its impact on inflation is expected to be less than 20 basis points, says a Nomura report.
The four supporting legislations -- the Compensation Law, the Central-GST (C-GST), Integrated-GST (I-GST) and Union Territory-GST (UT-GST)-- would be introduced as Money Bill, sources said.
Contrary to its earlier stand of infusing fresh capital in strong banks, the central government has decided to infuse fresh capital totalling Rs 8,586 crore into 10 weak banks subject to commitment to quarterly milestones by bank boards, management, employees and unions, said a top leader of All India Bank Employees` Union (AIBEA).
The inflation data currently fails to capture the ground reality, a Parliamentary panel has said, asking the government to come up with a separate price index for the services sector so as to reflect the rising costs in areas such as healthcare and education.
Expressing concerns over mounting bad loans, Banks Board Bureau (BBB) Chief Vinod Rai has written to Finance Minister Arun Jaitley and Prime Minister's Office underlining the tardy progress made by state-owned lenders in resolving the issue of Non Performing Assets.
The Cabinet may on Monday take up for approval the supporting GST legislations, which will then be introduced in Parliament as the government sprints to meet the July 1 target date for rollout of the new indirect tax regime.