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Rail fares, eating out, mobile bills likely to get more expensive from April 1

Rail fares, eating out, mobile bills likely to get more expensive from April 1

Whatever good or bad news the Budget 2016-17 may roll out for common man, but what seems likely that service tax rate will move north  from the existing 15 percent( inclusive of Krishi Cess and Swach Bharat Cess).

How government may boost digital payments in Budget 2017-18

How government may boost digital payments in Budget 2017-18

The jigsaw pieces are fitting well in the government's plan of digitisatioin of India.

PAN a must for excise, service taxpayers for GST registration

PAN a must for excise, service taxpayers for GST registration

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.

Large amount of black money has come into banking system, remonetisation progressing well: Arun Jaitley

Large amount of black money has come into banking system, remonetisation progressing well: Arun Jaitley

Talking of the positive outcome of the demonetisation undertaken by government on November 8, 2016, Finance Minister Arun Jaitley said on Sunday that large amount of money, including black money, has come into the banking system.

Impact of demonetisation visible, double-digit growth in India's tax collection figures: Arun Jaitley

Impact of demonetisation visible, double-digit growth in India's tax collection figures: Arun Jaitley

Union Finance Minister Arun Jaitley on Thursday said that the impact of demonetisation is clearly visible with tax collection figures seeing double-digit growth.

 India now needs lower level of taxation to be globally competitive: FM Arun Jaitley

India now needs lower level of taxation to be globally competitive: FM Arun Jaitley

Highlighting the need to have lower level of taxation, Finance Minister Arun Jaitley said on Monday that lower tax levels will make it competitive globally.

Modified norms to lower taxes of small traders by 30%: Finance Minister

Modified norms to lower taxes of small traders by 30%: Finance Minister

Finance Minister Arun Jaitley today said the government's decision to tweak the presumptive income norms would reduce the tax liability by up to 30 percent for those small traders opting for digital transactions.

 GST can be implemented anytime between April 1-September 16: Arun Jaitley

GST can be implemented anytime between April 1-September 16: Arun Jaitley

Finance Minister Arun Jaitley on Saturday said that GST is a transactional levy that unlike income tax can be implemented anytime during the year.

Demonetisation a courageous step, India holds adequate capacity to take note ban decision: Arun Jaitley

Demonetisation a courageous step, India holds adequate capacity to take note ban decision: Arun Jaitley

Finance Minister Arun Jaitley on Saturday hinted that not all of the Rs 15.44 lakh crore worth of currency junked will be remonetised through issuance of new notes as he said digital currency will fill the gap.

GST council approves 'bulk of critical provisions': Arun Jaitley

Union Finance Minister Arun Jaitley on Sunday said the GST Council had a discussion which was exclusively on the legislative drafting as a detailed CGST and SGST legislation, which is the most principle legislation, adding that bulk of the critical provisions were approved today.

 

GST Council meet inconclusive, panel to meet again on December 22-23

GST Council meet inconclusive, panel to meet again on December 22-23

Finance Minister Arun Jaitley on Sunday informed that discussion on legislative drafting of goods and services tax (GST) laws has started and bulk of provisions have been cleared.

 

To promote cashless economy govt announces discount on online railway bookings, lowers rental on PoS

To promote cashless economy govt announces discount on online railway bookings, lowers rental on PoS

Finance Minister Arun Jaitley announced various discounts in order to promote digital and cashless economy on Sunday in the two-day long meeting of the GST Council.

 Note ban: Petrol, diesel to be cheaper in e-payment; Rs 10 lakh insurance for online railway tickets booking, says FM Jaitley

Note ban: Petrol, diesel to be cheaper in e-payment; Rs 10 lakh insurance for online railway tickets booking, says FM Jaitley

In the wake of the demonetisation move taken by the government and to promote cashless transaction, Finance Minister Arun Jaitley on Thursday announced a list of sops for digitals users such as Rs 10 lakh insurance for railway tickets books online.

Despite differences  between states over GST draft, govt hopeful of rolling out GST on April 1

Despite differences between states over GST draft, govt hopeful of rolling out GST on April 1

The crucial meeting of the GST Council on Friday and Saturday ended without states reaching any consensus. The Council is slated to meet again on December 11 and 12 amid hopes of rolling out GST on April 1.

There is constitutional compulsion before states to roll out GST before September 16, 2017: Arun Jaitley

There is constitutional compulsion before states to roll out GST before September 16, 2017: Arun Jaitley

Finance Minister Arun Jaitley said on Friday that rolling out GST before September 16 has become a constitutional necessity as  states will not be able to collect their share of taxes henceforth,there is no scope to delay the decision any further.

GST Council to discuss model laws, tax jurisdiction on Friday

GST Council to discuss model laws, tax jurisdiction on Friday

The issues of draft model laws for implementation of the new GST regime from April 2017 and its jurisdiction will be form the forefront of discussion in the GST Council meet at the two-day meeting starting Friday.

GST, currency change to be 'game changers' for Indian economy: Arun Jaitley

GST, currency change to be 'game changers' for Indian economy: Arun Jaitley

Finance Minister Arun Jaitley on Thursday said that goods and services tax (GST) and demonetisation will be 'game changers' for Indian economy.

IT Amendment bill tabled in Lok Sabha; proposes 30% tax on undisclosed income plus 10% penalty

IT Amendment bill tabled in Lok Sabha; proposes 30% tax on undisclosed income plus 10% penalty

Finance Minister Arun Jaitley, on Monday, tabled the Income Tax Amendment Bill in the Lok Sabha amid chaos and protests in a bid to corner the ruling BJP government on the issue of demonetisation. The IT Amendment Bill proposes proposes 30% tax on undisclosed income plus 10% penalty on the unaccounted wealth.

 

Task force set up to oversee expansion of POS machines: Arun Jaitley

Task force set up to oversee expansion of POS machines: Arun Jaitley

The government has set up a task force to oversee the expansion of point of sale (POS) machines to facilitate further expansion of the cashless economy in India, Union Finance Minister Arun Jaitley said on Thursday.

Demonetisation to have positive impact on economy including GDP: Arun Jaitley

Demonetisation to have positive impact on economy including GDP: Arun Jaitley

Finance Minister Arun Jaitley on Thursday said the government`s demonetisation move is going to have "a positive impact on the economy, including GDP".