Stay Connected. Stay Informed.
Image for representation purpose only. | Photo Credit: Reuters The Finance Ministry has notified October 1 as the date for implementation of the amended GST law provisions for taxing e-gaming, casinos and horse racing. According to the changes to the Central GST Act, these supplies will henceforth be treated as “actionable claims” similar to lottery,…
Finance Ministry exuded confidence that the country will achieve 6.5% growth in FY24 on the back of improved corporate profitability, private capital formation and bank credit growth, notwithstanding the risks of rising crude oil prices and monsoon deficit. The Finance Ministry on September 22 exuded confidence that the country will achieve 6.5% growth in FY24…
Read More “Finance Ministry confident of 6.5% growth in FY24 despite symmetric risks” »
The ministry decided to enhance the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents. New Delhi: The Ministry of Finance on Monday approved a series of welfare measures for the benefit of Life Insurance Corporation of India (LIC) agents and employees according to a release from the Ministry. The ministry…
Read More “Centre Announces Welfare Measures For LIC Agents, Employees” »
September 15, 2023 10:35 pm | Updated September 16, 2023 08:31 am IST – NEW DELHI “Indian GDP data are not seasonally adjusted, and they are also revised multiple times before they are finalised three years after the close of the relevant financial year,” the Finance Ministry said. File | Photo Credit: PTI The Finance…
Read More “Wrong to assess economic activity on GDP alone: Finance Ministry” »
Image used for representational purpose. | Photo Credit: Thulasi Kakkat The government has exempted imports of LPG, liquified propane and liquified butane from 15% agri cess with effect from September 1. The government had in July imposed a 15% agri cess on imports of these goods. Also read | Centre slashes LPG prices by ₹200…
The government had in July imposed a 15 per cent agri cess on imports of these goods. New Delhi: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from Friday. The government had in July imposed a 15 per cent agri cess on imports…
Read More “Government Exempts LPG Imports From Agriculture Cess” »
The government has imposed a 20% duty on the export of parboiled rice, a move aimed at maintaining adequate local stock and keep domestic prices under check. The export duty, imposed on August 25, will remain effective till October 16, 2023, the Finance Ministry said in a notification. Duty exemption would be available on parboiled…
Read More “Govt. imposes 20% export duty on parboiled rice” »
Image used for representational purposes only. | Photo Credit: Special Arrangement India’s gross revenues from the Goods and Services Tax (GST) hit a three-month high to cross ₹1.65 lakh crore in July. However, at 10.8%, it was the slowest uptick in collections since July 2021 compared to revenues from the same month last year. Revenues…
Read More “GST revenues register three-month high in July” »
Minister of State for Finance Pankaj Choudhary. File The number of Hindu Undivided Families (HUFs) availing tax benefits under the Income Tax Act stood at almost 8.76 lakh in 2022-23, the lowest in at least five years. The impact on their tax treatment under a Uniform Civil Code (UCC) has not yet been examined, the…
Read More “No review of Uniform Civil Code impact on HUFs: Finance Ministry” »
Representational image only. | Photo Credit: Twitter/@FinMinIndia “Stellar macroeconomic management in the midst of unprecedented global challenges has put India on a quicker recovery path than has been the case in other nations,” the Finance Ministry said in a report on July 6. “Investments in supply-side infrastructure have raised the possibility of India enjoying sustained…