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.
Consumer Affairs Minister Ram Vilas Paswan said on Wednesday that imposition of service charge is unfair trade practice and consumers need not pay for the same.
RBI Governor Urjit Patel on Wednesday said that the central bank will continue to press ahead for a more fluid and smooth transmission of monetary policy.
Finance Minister Arun Jaitley on Wednesday reiterated that the Centre is still aiming to roll out the Goods and Services Tax (GST) regime from April 1 if all pending issues are sorted out.
The World Bank, however, asserted that the country would regain momentum in the following years with 7.6 and 7.8 percent growth.
Finance Minister Arun Jaitley on Wednesday said that bold reforms are required to transform economy.
The Centre's demonetisation drive did not have any impact on rabi sowing and prices of crops like paddy, soyabean and maize, Niti Aayog member Ramesh Chand has said.
Prime Minister Narendra Modi on Tuesday said that India is on threshold of becoming most digitised economy in the world.
Contrary to popular belief, it was the Government which had "advised" the Reserve Bank to junk Rs 500/1000 notes on November 7 and the board of the central bank the very next day recommended the demonetisation.
State Bank of India Chairman Arundhati Bhattacharya today said the prevailing situation arising out of demonetisation will get normalised by end-February, emphasising the need to promote digitisation of economy.
While the Reserve Bank of India (RBI) is still reconciling the quantum of demonetised currency that has been returned to banks by the December 30, 2016 deadline, NITI Aayog Member Bibek Debroy feels about 10 per cent of such notes won`t return to the system.
Government's capacity to implement reforms and policy effectiveness will decide India's rating going forward, Moody's Investors Service said today.
Country's largest lender SBI has waived Merchant Discount Rate (MDR) on debit card transactions for all small merchants with annual turnover of up to Rs 20 lakh for one year.
Foreign brokerage HSBC on Monday projected sharply lower growth numbers for the year at 6.3 percent, way lower than the official CSO estimate of 7.1 percent for 2016-17.
Prime Minister Narendra Modi may have to meet the Public Accounts Committee (PAC) of Parliament on the issue of demonetisation if the panel decides that the explanations given by top finance ministry officials and the RBI Governor Urjit Patel are are inadequate.
Finance Minister Arun Jaitley on Monday said that the indirect and direct tax collections between April and December this year increased by 25 percent and 12.01 percent respectively compared to the same period last year.
Petrol pump owners on Sunday night deferred till January 13 their decision to not accept credit and debit card payments for fuel sales after banks put off the move to levy the transaction (MDR) charge.
With banks deciding to imposed transaction (MDR) charges on them instead of consumers, petrol pumps across India will not accept credit and debit card payments for fuel sales from Monday.
If you are one of those registered under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), remember this – from April 1, Aadhaar will be compulsory under the scheme for work.
The tax department has made it mandatory for central excise duty and service taxpayers to obtain a valid PAN number before they can be migrated to the new goods and services tax (GST) set-up.
The government is absolute clear from day one that it would move against the shadow economy and black money, said Finance Minister Arun Jaitley on Sunday, adding the period of pain and inconveniences post demonetisation is getting over and economic activity is being restored.