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Taxation News

₹20 lakh cr pending direct tax demand under litigation: govt official

Direct tax demands totalling ₹18-₹20 lakh crore are now being litigated in...

16 Feb 2024 03:10 PM IST Taxation

GST department doubles down efforts to reach FY24 targets

Despite substantial monthly GST collections, the Revenue Department is doin...

14 Feb 2024 05:54 PM IST Taxation

GST compensation cess may get a new avatar

The goods and services tax (GST) compensation cess, which expires in March...

14 Feb 2024 02:35 PM IST Taxation

GST Council likely to discuss coinsurance, reinsurance issues at next meet

According to a senior government official, Goods and Services Tax (GST) co-...

12 Feb 2024 02:13 PM IST Taxation

Net direct tax collection rises 20% and surpasses revised forecasts of 80% due to improved compliance, PIT

The Income Tax Department announced on Sunday that net direct tax collectio...

12 Feb 2024 11:04 AM IST Taxation

GST rate rationalisation likely to take place after Lok Sabha polls: FinMin official

GST rate rationalisation, in all probability, will take place only after Lo...

09 Feb 2024 10:55 AM IST Taxation

Parliament panel recommends govt to seek 3-year deferment on EU carbon tax for MSMEs

A parliamentary panel has suggested that the Indian government should seek...

08 Feb 2024 05:53 PM IST Taxation

RBI retains repo rate at 6.5% for sixth consecutive time

The Reserve Bank of India on Thursday decided to keep the policy rate uncha...

08 Feb 2024 10:24 AM IST Taxation

GST officials employ data analytics, AI to bust tax evasion cases

Government of India has informed the Lok Sabha that GST officers are utilis...

06 Feb 2024 03:37 PM IST Taxation

Tax collections projects 14% higher in FY25 Union Budget despite fall in tax buoyancy

The Ministry of Finance may project gross tax collections of ₹38.3 lakh cro...

01 Feb 2024 01:06 PM IST Taxation

Budget: Sitharaman hikes capital spend, trims deficit for next fiscal; tax rates unchanged

Finance Minister Nirmala Sitharaman on Thursday hiked capital expenditure b...

01 Feb 2024 12:35 PM IST Taxation

GST collections in January at ₹1.72 lakh crore, second-highest ever

The government's Goods and Services Tax (GST) collections rose to ₹1.72 lak...

31 Jan 2024 08:18 PM IST Taxation

Companies gear up for litigation on GST anti-profiteering clause

Companies are bracing for further litigation, questioning the National Anti...

31 Jan 2024 12:48 PM IST Taxation

Reckless issuance of GST notices may lead to litigations, CBIC urges caution

The Central Board of Indirect Taxes & Customs (CBIC) has advised its of...

25 Jan 2024 12:10 PM IST Taxation

NRI selling immovable property in India? There are strings attached! Know tax implications

Sale of immovable property in India owned by a Non-resident (NR) individual...

11 Jan 2024 12:25 AM IST Taxation