- 14 Jun 2024 06:38 PM
- New
Centre-state talks soon on budget, GST
Source: https://www.livemint.com/economy/centrestate-talks-soon-on-budget-gst-11718279369403.html
The GST Council is scheduled to meet on 22 June in the national capital.
Industry executives expect steps to make tax filings easier, relief for online gaming for their past tax dues and clarifications in the insurance sector.
- 11 Jun 2024 06:24 PM
- New
Modi 3.0 Cabinet: Nirmala Sitharaman retains finance ministry
Nirmala Sitharaman is lauded for her role in advancing second-generation economic reforms. She is credited with reviving the Indian economy hit by the notes ban, implementing the Goods and Services Tax (GST), and reducing the base corporate tax to 22% from 30%
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- 10 Jun 2024 06:55 PM
- New
Mint Explainer: What were the key policy changes in Nirmala Sitharaman’s first five years as finance minister?
New Delhi: The new NDA coalition government will have to shift gears quickly as the Union budget for FY25, scheduled to be presented in about a month, will set the direction of future policies. Among the main challenges are improving living standards and the ease of doing business in India while ensuring macroeconomic stability amid global uncertainties.
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- 10 Jun 2024 06:47 PM
Flour mixes with additives attract 18% GST, clarifies Gujarat appellate authority
A Gandhinagar-based company selling flour mixes for dishes like idli, dhokla, and dahi vada had argued that these flour mixes should be classified under a category liable to a 5% tax rate
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- 07 Jun 2024 06:37 PM
India must tackle illegal offshore gambling platforms
Countries all over the world, including India, are grappling with the issue of offshore betting and gambling platforms as they pose multitudinal threats from individual customers to national security.
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- 06 Jun 2024 06:15 PM
A new excise law to refine 80-year-old rules will make life easier for oil firms
A new law proposed to replace the eight-decade-old Central Excise Act will cut the compliance burden on oil and gas companies that are currently governed by the excise duty regime.
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- 05 Jun 2024 06:32 PM
New central excise law in the offing
Source: https://www.livemint.com/news/india/new-central-excise-law-in-the-offing-11717511855332.html
A new central excise law will replace the existing eight-decade-old Central Excise Act, the finance ministry said on Tuesday while seeking public comments on a draft bill.
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- 05 Jun 2024 06:28 PM
Modi 3.0: It's time to write a guidebook for tax reforms
Source: https://www.livemint.com/opinion/columns/fiscal-management-of-the-new-government-11717501950893.html
In a year of global elections, all eyes are on India. A lot has been written about the hopes and expectations of the new government. It is now time to set the trajectory for the next five years. The last decade was marked by a series of reforms and economic setbacks from covid-19. As the new government sets its eye on the future, its economic legacy must shape fiscal policy thinking.
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- 03 Jun 2024 07:05 PM
May 2024 GST Collection Hits ₹1.73 Lakh Crore, 10% Growth
The Ministry of Finance has reported a robust performance in Goods and Services Tax (GST) revenue collection for May 2024, reflecting significant economic activity and efficient tax administration. The gross GST revenue for the month of May 2024 stood at ₹1.73 lakh crore, marking a 10% increase from the same period last year. This growth is largely attributed to a 15.3% rise in domestic transactions, indicating a healthy domestic market, although imports saw a 4.3% decline. After accounting for refunds, the net GST revenue for May 2024 amounted to ₹1.44 lakh crore, demonstrating a 6.9% year-on-year growth.
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- 03 Jun 2024 06:27 PM
GST collection rises 10% to ₹1.73 lakh crore in May 2024, gross GST revenue up 15.3% YoY
The growth in GST collections was driven by an increase in revenues from domestic transactions (up 15.3 per cent) over the slowing of imports (down 4.3 per cent)
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