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Income Tax refunds worth Rs 1.22 lakh crore issued in FY’16: Govt

Income Tax refunds worth Rs 1.22 lakh crore issued in FY’16: Govt

The Income Tax department has issued 2.10 crore refunds totalling over Rs 1.22 lakh crore in 2015-16, which saw 94 per cent the returns being filed online.

Indirect tax collection grows by 34% in Apr-Nov period

Reflecting improvement in industrial activities, indirect tax collection jumped 34.3 percent to Rs 4,38,291 crore during the first eight months of current financial year.

Govt eases penal provisions for customs, excise offences

In a bid to reduce harassment of overseas travellers, the government today eased the penal provisions by raising fourfold to Rs 20 lakh the limit of undeclared or mis-declared baggage that will attract arrest or prosecution.

CBEC must aim at 22% growth in service tax collection: Das

Concerned over low service tax realisation, Revenue Secretary Shaktikanta Das Monday asked the CBEC (Customs, Central Excise and Service Tax) to analyse revenue mop-up sectorally and ensure that it grows by 20-22 percent in the fiscal.

Over Rs 74,000-cr unrealised tax revenue; CAG for close review

Over Rs 74,000 crore in central excise and service tax revenue is pending realisation for 2012 -13 on various grounds, including that of injunction or appeal.

Central Excise slaps Rs 4.6-crore tax notice on Indian Oil

Central Excise slapped Rs 4.6-crore tax notice on Indian Oil for not paying service tax under the head of a 'goods transport agency'.

Central Excise books tax evasion cases of over Rs 25 crore

Central Excise has booked cases against three entities for tax evasion of over Rs 25 crore for misusing cenvat credit facilities.

Govt detects Rs 5,995 crore central excise, service tax evasions

The government on Wednesday said it has detected alleged central excise and service tax evasions of about Rs 5,995 crore during 2011-12.

No service tax from CAG, says CBEC; reverses earlier stand

The Revenue Department has said that auditing services provided by Comptroller and Auditor General (CAG) will not be subject to 12 percent service tax as it is a constitutional body.

Excise duty, service tax evasion of over Rs 13,600 crore detected

Revenue department detected central excise and service tax evasion of over Rs 13,620 crore in the 11-month period till February of 2011-12 fiscal, the government said.

Now, common return for central excise, service tax

As a measure of synchronization between Central Excise and Service Tax, the Government has made a number of alignments.