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State FMs agree on Rs 10 lakh threshold for levying GST

State FMs agree on Rs 10 lakh threshold for levying GST

Last Updated: Wednesday, August 20, 2014, 17:57

State Finance Ministers on Wednesday pressed for lowering the threshold limit to Rs 10 lakh for imposing Goods and Service tax (GST) on entities and asked the Centre to specify GST compensation structure for five years in the Constitutional Amendment Bill.

Indirect tax collections up 3.9% in April-July

Indirect tax collections up 3.9% in April-July

Last Updated: Tuesday, August 19, 2014, 20:04

Indirect tax mop up inched up by 3.9 percent in the April-July quarter of the current fiscal due to decline in custom duty and excise duty collections, reflecting slump in manufacturing activity.

GST to be a reality soon: FinMin

Last Updated: Tuesday, August 12, 2014, 22:07

Minister of State for Finance Nirmala Sitharaman also emphasised that the NDA government has zero tolerance towards corruption and would focus on "accountability in the tax administration".

Indirect tax collections up 4.5% in April-June

Last Updated: Thursday, July 24, 2014, 23:43

Indirect tax mop up inched up by 4.5 percent in the April-June quarter of the current fiscal due to decline in custom duty and excise duty collections, reflecting slump in manufacturing activity.

Over Rs 1 lakh cr locked in excise, service tax litigation

Last Updated: Sunday, July 20, 2014, 19:12

Over Rs 1 lakh crore of taxes were locked up in various stages of litigation in service tax and central excise at the end of March 2013, official auditor CAG has said.

KFA dues: Service Tax Dept seeks its share from banks' pie

Last Updated: Tuesday, July 15, 2014, 20:06

Unable to recover over Rs 50 crore dues from Kingfisher Airlines, the services tax department has moved courts to get a share from sale of securities being undertaken by lenders.

Budget will give impetus to people’s participation: Narendra Modi

Last Updated: Thursday, July 10, 2014, 18:01

Prime Minister Narendra Modi on Thursday termed the Budget as one that converts hopes and aspirations of the people into trust.

PPP is new mantra for infra in Jaitley's maiden budget

Last Updated: Thursday, July 10, 2014, 17:32

Asserting that lack of infrastructure will not be allowed to hit growth, government on Thursday announced a slew of steps to fast-track projects mostly in public-private-partnerships, which finds renewed focus in Finance Minister Arun Jaitley's maiden Budget.

Govt raises foreign investment limit in defence to 49%

Last Updated: Thursday, July 10, 2014, 17:13

In order to boost manufacturing and reduce import dependence, the government on Thursday proposed to raise the foreign investment limit to 49 percent in the defence sector.

J-K benefits with Rs 500-cr package for Kashmiri migrants, IIT

Last Updated: Thursday, July 10, 2014, 17:11

A Rs 500-crore package for rebuilding the lives of Kashmiri migrants was among the slew of measures announced in this year's Union budget for Jammu and Kashmir.

FDI in realty, tax sops for REITs to boost housing segment

Last Updated: Thursday, July 10, 2014, 17:02

In a slew of measures to boost slowdown hit real estate sector, the government on Thursday relaxed FDI rules, gave incentive on home loans, offered tax sops on investment trusts and provided Rs 7,060 crore for the development of 100 smart cities.

New intel units, 800 personnel to check service tax evasion

Last Updated: Sunday, July 06, 2014, 19:06

The Finance Ministry has cleared creation of new intelligence units across the country and appointment of over 800 personnel to check any leakage in its earnings from the indirect tax.