Indirect tax

After demonetisation and GST, Modi govt sets sight on new Direct Tax law

After demonetisation and GST, Modi govt sets sight on new Direct Tax law

The move, which is aimed to make direct taxes - income and corporate - simple, comes ahead of BJP-led government's last full Budget.

Nov 23, 2017, 10:05 AM IST
GST impact: Customers enjoy upto 60% discount as retailers get busy clearing stocks

GST impact: Customers enjoy upto 60% discount as retailers get busy clearing stocks

With less than 10 days to go for the biggest indirect tax reform to take effect, retailers are rushing to clear their stocks by offering huge discounts ranging from around 30 percent to 60 percent.

Jun 22, 2017, 13:39 PM IST
GST inches closer to July 1 rollout: Things that you must know

GST inches closer to July 1 rollout: Things that you must know

Touted as the biggest indirect tax reform since independence, GST would subsume central excise, service tax and other local levies.

Apr 03, 2017, 10:20 AM IST
Indirect tax revenue grows 22% in Apr-Feb; direct tax up 10.7%

Indirect tax revenue grows 22% in Apr-Feb; direct tax up 10.7%

The government's revenue collection from indirect tax during April-February grew by an impressive 22.2 percent while that of direct tax rose by 10.7 percent.

 

Mar 10, 2017, 13:53 PM IST
Tata Motors, Kingfisher Airlines owe over Rs 1,000 crore each in indirect tax

Tata Motors, Kingfisher Airlines owe over Rs 1,000 crore each in indirect tax

Tata Motors and Kingfisher Airlines are among the four companies that owe over Rs 1,000 crore in indirect taxes to the exchequer, Parliament was informed on Friday.

Nov 25, 2016, 15:20 PM IST

CBDT tells officers to submit data of appeals disposed of every month

To fast-track disposal of tax cases, CBDT has started reviewing performance of its officers and asked commissioners to submit data on number of appeals they have disposed of every month against the given target.

Oct 17, 2016, 14:33 PM IST
Indirect tax collection jumps 26% in April-September, direct tax 9%

Indirect tax collection jumps 26% in April-September, direct tax 9%

Government's revenue collection in April to September -- the first half of the current fiscal -- saw indirect tax-mop up growing at an impressive 26 percent while that of direct tax came in at a tepid 9 percent.

Oct 10, 2016, 22:44 PM IST

Direct tax collections till September grow 9% to Rs 3.27 lakh crore

Direct tax collections during the six months ended September grew about 9 percent to Rs 3.27 lakh crore, buoyed mainly by personal income tax mop-up.

Oct 10, 2016, 21:34 PM IST
GST Council to hold its first meeting today

GST Council to hold its first meeting today

The council will decide on long pending issues of threshold limit for applicability of the tax as well as the limit for dual control between Centre and states. Union Finance Minister Arun Jaitley will chair the meeting.

Sep 22, 2016, 08:39 AM IST
Government's tax kitty swells to Rs 4.3 lakh crore in April-July

Government's tax kitty swells to Rs 4.3 lakh crore in April-July

Reflecting an upturn in economic activity, government's revenue collection showed an impressive growth in April-July period of this fiscal, with total direct and indirect tax mop-up rising to Rs 4.3 lakh crore.

Aug 09, 2016, 22:53 PM IST
GST: 1% additional tax dropped; states to get full compensation for first 5 years

GST: 1% additional tax dropped; states to get full compensation for first 5 years

The Cabinet on Thursday cleared changes in the GST Constitutional Amendment Bill, dropping 1 percent manufacturing tax and providing guarantee to compensate states for any revenue loss in the first five years of rollout of the proposed indirect tax regime.

Jul 28, 2016, 12:26 PM IST
Breakthrough: Cabinet approves changes to GST Bill, states to get full compensation for first 5 years

Breakthrough: Cabinet approves changes to GST Bill, states to get full compensation for first 5 years

 The Union Cabinet on Wednesday approved changes in the GST Constitutional Amendment Bill providing for full compensation to states for first five years of roll out of the new indirect tax regime.

Jul 27, 2016, 20:22 PM IST
Finance Ministry releases draft of model GST Bill

Finance Ministry releases draft of model GST Bill

Finance Ministry on Tuesday released the draft of model GST Bill.

Jun 14, 2016, 16:06 PM IST
GST deadlock: Crucial meeting of state FMs with Arun Jaitley begins, breakthrough likely

GST deadlock: Crucial meeting of state FMs with Arun Jaitley begins, breakthrough likely

The meeting on June 14 and 15 will discuss the model GST law, which will be adopted by the Centre and all states.

Jun 14, 2016, 12:37 PM IST
Government unearths indirect tax evasion of Rs 50,000 crore in 2 years

Government unearths indirect tax evasion of Rs 50,000 crore in 2 years

 As much as Rs 50,000 crore of indirect tax evasion and another Rs 21,000 crore of undisclosed income has been unearthed by the government in the last two years.

May 10, 2016, 14:18 PM IST
Spurt in indirect tax mop up to help govt meet FY16 target

Spurt in indirect tax mop up to help govt meet FY16 target

After two successive years of revising downward the tax revenue target, fiscal 2015-16 which ends on March 31 is likely to see tax revenue target of Rs 14.49 lakh crore being met.

 

Feb 10, 2016, 13:27 PM IST

Indirect tax mop-up paces up, grows 36% during Apr-Oct 2015

In October 2015, indirect tax revenue collections rose 36.8 percent from a year ago.

Nov 10, 2015, 00:12 AM IST

36.5% rise in indirect tax receipts a huge positive: Jaitley

The 36.5 percent rise in indirect tax collections "looks bigger because of certain additional revenue measures which we took since November last year", Jaitley said.

Nov 04, 2015, 15:37 PM IST
Report on uniform GST rate by month end

Report on uniform GST rate by month end

The government panel set up to suggest a uniform rate of indirect tax under the GST regime will submit its report by this month-end and the roll out of the reform measure is possible any time next fiscal, a senior CBEC official said Wednesday.

Sep 16, 2015, 14:51 PM IST

Present indirect taxation system complete mess: Arun Jaitley

Union Finance Minister Arun Jaitley Thursday said the present indirect taxation system is in a "complete mess" and sought support of political parties and state governments for implementation of Goods and Service Tax reform.

Sep 11, 2015, 00:02 AM IST