Tag: Finance Ministry

Finance Ministry should identify high risk taxpayers in GST composition scheme: CAG

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Finance Ministry should identify high risk taxpayers in GST composition scheme: CAG

CAG has asked the Finance Ministry to identify high risk taxpayers in the GST composition scheme on a periodical basis and verify from other sources, including third parties, their declared value of sales to check tax evasion. | Photo Credit: The Hindu The Comptroller and Auditor General (CAG) has asked the Finance Ministry to identify…

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Business

Broadcast Ministry Requests GST Exemption On Digital News Subscription

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Broadcast Ministry Requests GST Exemption On Digital News Subscription

Representational Image The Information & Broadcasting (I&B) Ministry has urged the Ministry of Finance to reduce the GST on digital news subscriptions. In a letter dated July 22, I&B secretary Sanjay Jaju requested his revenue counterpart Sanjay Malhotra to either exempt the GST on digital news subscriptions or reduce it from 18 per cent to five…

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Nation

Finance Ministry urges insurance companies to support Kerala calamity victims for expedited insurance claims processing, payment

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Finance Ministry urges insurance companies to support Kerala calamity victims for expedited insurance claims processing, payment

Rescuers and other stand amid debris after landslides hit hilly villages in Wayanad district, Kerala on July 30, 2024. | Photo Credit: AP The Finance Ministry on August 3 urged all Public Sector Insurance companies to extend all possible support to Kerala calamity victims so that their insurance claims can be expeditiously processed and paid….

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Business

India’s outlook for next fiscal positive: Finance Ministry

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India’s outlook for next fiscal positive: Finance Ministry

Strong growth accompanied by stable inflation and external account and progressive employment outlook will help the Indian economy close the current financial year on a positive note. Representational file image. | Photo Credit: Reuters The Finance Ministry on March 22 said with an uptick in private investment and inflation trending down, India’s outlook for the…

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Business

Direct tax kitty gathers steam, up 20.25% by February 10

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Direct tax kitty gathers steam, up 20.25% by February 10

Growth in the Personal Income Tax revenues continued to outstrip Corporate Income Tax. Representational | Photo Credit: C. Venkatachalapathy India’s net direct tax collections picked up pace over the past month to rise 20.25% year-on-year by February 10, compared to a 19.4% uptick on the same date in January, as per data released by the…

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Business

India to become third largest economy with GDP of $5 trillion in three years: Finance Ministry

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India to become third largest economy with GDP of trillion in three years: Finance Ministry

Photo used for representation purpose only. India is expected to become the third-largest economy in the world with a GDP of $5 trillion in the next three years and touch $7 trillion by 2030 on the back of continued reforms, the Finance Ministry said on January 29. Ten years ago, India was the 10th largest…

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Business

What’s in store for the economy in second half? | Explained

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What’s in store for the economy in second half? | Explained

Economists feel a prolonged conflict in West Asia could push crude oil prices beyond India’s comfort zone. | Photo Credit: Getty Images/iStockphoto The story so far: The Indian economy, measured in terms of the Gross Domestic Product (GDP) as well as Gross Value-Added (GVA), grew 7.8% between April and June (first quarter or Q1) this…

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Business

GST revenue growth slowed to 10.2% in September

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GST revenue growth slowed to 10.2% in September

Photo used for representation purpose only. Growth in India’s gross GST revenues slowed to 10.2% in September from around 10.8% in the previous two months, but collections improved 2.3% over August revenues to touch ₹1,62,712 crore. Revenues from domestic transactions (including import of services) are 14% higher than the revenues from these sources during the…

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Business