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The Indirect tax collections witnessed the sharp rise in the graph of excise collection due to the increased excise duty on the petrol and diesel. An official statement expressed,”Indirect tax collections for the month of April 2016 was Rs 64,394 crore registering a growth of 41.8 per cent as compared to Rs 45,417 crore collected […]
The first month of the fiscal year 2016-17, April has shown an increase of indirect tax collections by 41% to Rs. 64,394 crore. The major reason behind this hike is due to a sharp central excise gush. Last months’ records shot up the central excise collections by 70% to Rs. 28,252 as compared to Rs. […]
Anticipated Goods and Service Tax (GST) bill has gone through with lots of ups and down, until its suggestion to its current form now, a single tax for a number of taxes. As per a top official source, The Hindu revealed that GST rolled out could pushed by 2017 and GST needed a Constitution (122nd) Amendment Bill to become reality and in the remainder of the current session of Rajya Sabha, it’s seems impossible.
The Central Board of Direct Taxes (CBDT) announced that the disclosure of the acquisition cost of all the assets like land, building and jewellery is mandatory, via each and every assessee, who have annual income above Rs 50 lakh amount, in the Income Tax return forms for assessment year 2016-17.
Panama Papers is a high-profile issue in the country as recent and today it again caught up fire when Finance Minister Mr. Arun Jaitley announced today in Frankfurt that our Income Tax Department sent notices to all the 500 Indians names disclosed in the list produced last month for allegedly stashed money in the offshore […]
BEIJING: IMF yesterday, said structural betterments that include GST and the other land reform zones will be the prominent factors to amplify the economic potentials of India.
The National Association of Manufacturers, largest manufacturing association in United States, with an aim to increase investment and grow themselves in the Indian manufacturing market, sent an urgent request to the Obama administration to remove the obstruction from the trade and taxation in the Indian economy.
The Congress party on Friday insistently said it’s not us but the RSS that does not want the passage of the Goods and Services Tax (GST) bill in the parliament. As well as the party also mentioned to give their support to the key legislation, if ruling government agrees to their two “Principal demands”.