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Indirect Tax

GST Council set to meet on September 9; here is what you can expect

GST Council set to meet on September 9; here is what you can expect

Mon, Aug 12, 2024

On June 22, Finance Minister Nirmala Sitharaman said that the next meeting of the GST Council would take place in mid to late August.

Customs Violation Cases: Power to attach bank accounts should be exercised after examining facts carefully, CBIC tells field offices

Customs Violation Cases: Power to attach bank accounts should be exercised after examining facts carefully, CBIC tells field offices

Mon, Jul 29, 2024

Under the Customs Act, Principal Commissioner or Commissioner of Customs can order in writing about the attachment of bank accounts for up to six months in cases where it is in the interest of revenue or for preventing smuggling. Such attachments can be extended by another six months.

Understand from Anil Singhvi in 1 minute what is Indirect Tax?

Understand from Anil Singhvi in 1 minute what is Indirect Tax?

Tue, Jul 09, 2024

What is indirect tax? Understand from Anil Singhvi in 1 minute what is Indirect Tax?

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26.7% of central taxpayers migrate to GSTN in Bengal circle

26.7% of central taxpayers migrate to GSTN in Bengal circle

Thu, Mar 23, 2017

"So far, about 26.7 per cent of 88,201 taxpayers, who are registered with central excise and service tax have migrated to GSTN," said Central Excise (Service Tax) Chief Commissioner R.K. Sharma.

CBEC seeks exporters' feedback on drawback rates post GST

CBEC seeks exporters' feedback on drawback rates post GST

Sun, Feb 26, 2017

"In order to ensure smooth transition to GST framework, the Drawback Committee is to formulate and recommend revised All Industry Rates (AIRs) of drawback on rebate to be implemented for exports in the context of new GST environment," it said.

Indirect tax collection grows 17% in January 2017, Hasmukh Adhia says

Indirect tax collection grows 17% in January 2017, Hasmukh Adhia says

Fri, Feb 10, 2017

India's revenue secretary Hasmukh Adhhia in New Delhi on Friday said that tax collections (direct and indirect) continue to show consistent trend of healthy growth.

Union Budget 2017: Govt may not achieve divestment target

Union Budget 2017: Govt may not achieve divestment target

Wed, Feb 01, 2017

The divestment income targets seems to be too aggressive for FY17 and hence expected to see a shortfall.

Budget 2017: Cash-ban distress leaves scant room for tax giveaways

Budget 2017: Cash-ban distress leaves scant room for tax giveaways

Mon, Jan 23, 2017

Indirect tax receipts grew by an annual 14.2% in December.

Keep labour-intensive sectors out of GST ambit: Nirmala Sitharaman

Keep labour-intensive sectors out of GST ambit: Nirmala Sitharaman

Tue, Jan 03, 2017

Commerce and Industry Ministry on Tuesday asked the GST Council to grant ab-initio exemption to exporters from the Goods and Services Tax (GST) and keep the labour-intensive sectors like leather and plantation completely out of the tax net or put them in lowest slab.

Did Arun Jaitley just hint at lower income taxes rates?

Did Arun Jaitley just hint at lower income taxes rates?

Tue, Dec 13, 2016

Jaitley said, "Future transaction would be substantially digital and once they are substantially digital, they would come in the tax net. Therefore, the future taxation level would be much higher than what is currently being collected."

Demonetisation impact: Direct, indirect tax collections in November drop

Demonetisation impact: Direct, indirect tax collections in November drop

Fri, Dec 09, 2016

The Central Board of Excise and Customs (CBEC), also released indirect tax collection data.

Tata Motors, Kingfisher owe over Rs 1000 crore each in indirect tax

Tata Motors, Kingfisher owe over Rs 1000 crore each in indirect tax

Fri, Nov 25, 2016

Vijay Mallya-promoted Kingfisher Airlines, now defunct, owes Rs 1,012.96 crore in service tax and penalty.

Indirect tax collection rose by 25.9% in Sept: FinMin

Indirect tax collection rose by 25.9% in Sept: FinMin

Mon, Oct 10, 2016

Till September, 52.5% of the Budget Estimates (BE) of indirect taxes for the current financial year has been achieved, Ministry of Finance said.

Indirect tax collections up over 27%; at Rs 3.36 lakh crore till August

Indirect tax collections up over 27%; at Rs 3.36 lakh crore till August

Mon, Sep 12, 2016

Indirect tax collections for the current fiscal up to August 31, 2016 has increased 27.5% to Rs 3.36 lakh crore. This is nearly half of the Budget Estimates (BE) of indirect taxes for Financial Year 2016-17 Ministry of Finance said.

India's tax collections for the current year shoot up smartly

India's tax collections for the current year shoot up smartly

Wed, Aug 10, 2016

Direct tax collections, or corporate and income tax rose by over 24%, at Rs 1.59 lakh crore upto July 2016. "Till July, 2016, 18.82%of the Budget Estimates of direct taxes for FY 2016-17 has been achieved," the statement said.

Indirect tax collections registers 30% growth upto July 2016

Indirect tax collections registers 30% growth upto July 2016

Tue, Aug 09, 2016

During the month of July the total indirect tax collections had increased by 23.4% as it stood at Rs 68,341 crore in July 2016 from Rs 55,388 crore in the same month a year back.

Tax concessions may cost India Rs 6 lakh crore this year

Tax concessions may cost India Rs 6 lakh crore this year

Wed, Aug 03, 2016

“No sector wise details of industry are however maintained and section wise details of revenue impact of direct tax incentives is presented before Parliament with Budget in the form of document titled, 'Statement of Revenue Impact of Tax Incentives under the Central Tax System',” said Santosh Kumar Gangwar, Minister of State (MoS), Finance Ministry.

Finance Minister Arun Jaitley hints at GST rollout in 2017

Finance Minister Arun Jaitley hints at GST rollout in 2017

Thu, Jun 02, 2016

Jaitley, who arrived in Osaka in Japan on Wednesday on the second leg of his six-day investor wooing tour of Japan, said the IT backbone required for enforcement of GST has made significant headway.

Indirect tax collections in April total Rs.64,000 crore

Indirect tax collections in April total Rs.64,000 crore

Wed, May 11, 2016

Overall growth in revenue collections, after discounting for additional revenue mobilisation, is 17%.

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

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

Tue, May 10, 2016

A Special Investigation Team has been constituted, chaired by former Supreme Court Judge M B Shah.

Direct Tax collection's share in economy falls to decade low of 5.47% in FY16

Direct Tax collection's share in economy falls to decade low of 5.47% in FY16

Sat, Apr 30, 2016

Maharashtra contributes the biggest share of direct taxes at Rs 2.77 lakh crore in 2014-15 when total collections were Rs 6.96 lakh crore.

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