Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Uttar Pradesh CM Yogi Adityanath is persistent in increasing the tax revenue of the state. UP with the current count of 1.4 million registered taxpayers, CM of the state is intending to increase the numbers and reach up to 2.5 million marks by the next financial year. Highlights of the meeting of tax officials with […]
The current situation is a catastrophe for the income tax governance as the revenue collection target for 2019-20 is seeming beyond the reach. The first half of the financial year (April to mid-September) has ended with lower than expected growth in revenue collection, giving the signs of a severe economic slowdown. The advance tax collection […]
The last rate for tax return filing for the Fiscal Year 2019 i.e. 31st August seized a sum of 49,29,121 tax returns being filed, as per the statement made to the press by the Income Tax department. The total number of ITRs filed in last four to five days of August is quite impressive and […]
The Modi-led government has recently announced that it will sort out all the major issues or glitches in the new GST system, which was also the key reason for the decline in indirect tax revenue. At the time when the GST regime was launched, the government has promised that the full benefits of GST reform […]
Some of the reliable sources at income tax department have revealed that tax officials are likely to ask for a 6% reduction in GST return collection target in the full Union Budget for the FY 2019-20, in comparison to what has been announced during the Interim Budget earlier this year. The demand of 6% reduction […]
Recently, the indirect tax department has requested the government to reduce the tax collection target for 2020 owing to slow economic growth in the country. However, the government has politely declined this request made by the CBDT. This has also increased the difficulties in the upcoming interim budget that is going to be presented by […]
The collection of GST (Goods and Services) was the highest in the month of April till now but this sudden increase in the GST revenue is far from the sight of becoming the permanent norm. In April 2019, the GST revenue increased by 10 per cent i.e. INR 1.13 trillion ($16 billion) as compared to […]
As per a message recently tweeted by the Ministry of Finance, the net direct tax (income tax, etc) amount collected for the financial year 2017-18 is over Rs 10.03 lakh crore, with a year on year growth of 18%, which is the highest in the past 7 years.
Vanaja N Sarna, Chairperson of Central Board of Excise and Customs (CBEC), said that the tax collected under the new tax regime is deviating from the expected figure and there are no targets in line to tweak the annual revenue goals.
