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Maharashtra Deputy Chief Minister Ajit Pawar on Friday presented a budget while announcing an amnesty scheme for Goods and Services Tax (GST) payees and a reduction of VAT on natural gas, among other tax concessions. The tax revenues as per…
Finance minister Nirmala Sitharaman on Monday pulled up the CBDT (Central Board of Direct Taxes) and CBIC (Central Board of Indirect Taxes & Customs) officials for not responding to grievances of tax assessees. In an interaction with industry in Bengaluru…
Finance Minister Nirmala Sitharaman said Tuesday she sees possibility of tax revenue generation for the government from crypto assets, days after the government proposed a tax of 30% on income from cryptocurrencies and other digital assets in the Budget. “Many…
The GST Council in its next meeting may look at raising the lowest tax slab to 8 per cent, from 5 per cent, and prune the exemption list in the Goods and Services Tax regime as it looks to increase…
Chief Minister of Karnataka Basavaraj Bommai on Friday said the estimated revenue deficit of Rs 14,699 crore in 2022-23 can be minimised if the Centre agrees to the request of the State to extend the GST (goods and services tax)…
The Income Tax Department conducted search & seizure operations on a multinational group, engaged in distribution of telecom products and providing captive software development services, on 15.02.2022. The ultimate shareholding of the group lies with a foreign entity of a…
The Income Tax Department carried out search and seizure operations on 25.02.2022 on certain contractors executing contracts of Brihanmumbai Municipal Corporation (BMC), a prominent person and their close associates. In all, more than 35 premises in Mumbai have been covered…
The CBIC on Thursday cautioned the public against sharing Aadhaar and PAN details without a valid reason or for monetary gains, saying that the information could be misused by fraudsters for GST evasion. In a tweet, the Central Board of…
Revenue Secretary Tarun Bajaj on Saturday said that the old income tax regime must be disincentivised with a view to encourage more people to opt for the new income-tax regime. Bajaj mooted a shift towards a simplified taxation tax structure.…
The government on Monday made it clear once again that it was moving away from tax exemptions. While Finance Minister Nirmala Sitharaman said India needs to “widen its tax base”, revenue secretary Tarun Bajaj said tax breaks “only benefit the…