GST issue will be resolved soon: Chidambaram
July 13th, 2012 - 5:51 pm ICT by IANS
Chandigarh, July 13 (IANS) The government will soon resolve the issues hindering the implementation of goods and services tax (GST) that aims to bring uniformity in indirect taxes across ... Read more...
Posted in Business |
Ethiopia seals deal with India to avoid double taxation
April 6th, 2012 - 12:59 pm ICT by IANS
Addis Ababa, April 6 (IANS) Ethiopia has signed double taxation avoidance pacts with four countries, including its growing trading partners India and China.The agreements, also with Sudan and Egypt, were ... Read more...
Posted in World |
Tax hikes to hit household budgets
April 1st, 2012 - 6:45 pm ICT by IANS
New Delhi, April 1 (IANS) Household budgets will be hit hard as the two percent increase in service tax and excise duty contained in the budget for 2012-13 came ... Read more...
Posted in Business |
Budget 2012-13 misses big picture: Yashwant Sinha
March 16th, 2012 - 6:59 pm ICT by IANS
New Delhi, March 16 (IANS) The ninth budget of the Congress-led United Progressive Alliance (UPA) misses the big picture and fails to address challenges like inflation and high economic ... Read more...
Posted in Uncategorized |
Experts say excise duty hike was expected
March 16th, 2012 - 6:54 pm ICT by IANS
New Delhi, March 16 (IANS) Finance Minister Pranab Mukherjee Friday proposed a two percentage point hike in peak excise duty from 10 percent to 12 percent. Market analysts said ... Read more...
Posted in Business |
Mukherjee puts money in one pocket, takes out from others (Roundup)
March 16th, 2012 - 4:54 pm ICT by IANS
New Delhi, March 16 (IANS) Every tax payer in India is set to gain at least Rs.2,000 per annum, thanks to the relief proposed by Finance Minister Pranab Mukherjee. ... Read more...
Posted in Business |
‘Budget ineffective, clerical; will burden common man’ (Second Lead)
March 16th, 2012 - 4:52 pm ICT by IANS
New Delhi, March 16 (IANS) The Left parties Friday termed the budget for 2012-13 "clerical" and "ineffective" and said it would increase the burden on the common man."It is ... Read more...
Posted in Politics |
India to return to 8-9 percent growth: President (Second Lead) (With image)
March 12th, 2012 - 6:24 pm ICT by IANS
New Delhi, March 12 (IANS) The Indian economy will soon return to an eight-nine percent growth trajectory - from around seven percent projected for the fiscal ending March 31 ... Read more...
Posted in Business |
Government hopes to meet indirect tax collection target
February 8th, 2012 - 9:18 pm ICT by IANS
New Delhi, Feb 8 (IANS) The government Wednesday said it hopes to collect Rs.392,908 crore as indirect taxes for the fiscal ending March 31, as the mop-up in the fist ... Read more...
Posted in Business |
India’s fiscal deficit projected to fall
January 24th, 2012 - 10:01 pm ICT by IANS
Washington, Jan 24 (IANS) In India, the cyclically adjusted deficit is projected to fall by about 0.50 percent of GDP this year, according to the International Monetary Fund (IMF).However, the ... Read more...
Posted in Business |
KPMG to offer training in tax laws at NIIT centres
January 5th, 2012 - 7:06 pm ICT by IANS
Bangalore, Jan 5 (IANS) Global consulting-cum-audit firm KPMG will offer training in taxation laws and regulations in collaboration with NIIT Imperia management institution to meet the growing need for ... Read more...
Posted in Business |
Direct tax code to come into force from April 2012: Pranab
December 7th, 2011 - 4:59 pm ICT by IANS
New Delhi, Dec 7 (IANS) The long-awaited Direct Tax Code (DTC) that seeks to simplify tax laws by lowering the tax rates and bringing more people and firms within ... Read more...
Posted in Business |
CPI-M blames government for inflation
November 24th, 2011 - 5:13 pm ICT by IANS
New Delhi, Nov 24 (IANS) The Communist Party of India-Marxist (CPI-M) Thursday blamed the government for rising food prices and sought a ban on futures trading in sugar, wheat and ... Read more...
Posted in Politics |
Bring GST, manage resources better in 12th plan: Ahluwalia to states
October 22nd, 2011 - 6:35 pm ICT by IANS
New Delhi, Oct 22 (IANS) The states must agree to reforms such as the Goods and Services Tax (GST), reduce their respective fiscal deficit and manage crucial resources such ... Read more...
Posted in Business |
Tax collections, notably in services, encouraging: Mukherjee
July 27th, 2011 - 4:03 pm ICT by IANS
New Delhi, July 27 (IANS) Amid concerns that India may not be able to meet its fiscal deficit target for this fiscal, Finance Minister Pranab Mukherjee Wednesday said tax ... Read more...
Posted in Business |
Pakistani auditors detect Rs.200 bn tax evasion
July 25th, 2011 - 3:21 pm ICT by IANS
Islamabad, July 25 (IANS) Auditors in Pakistan have found tax evasion of more than Rs.200 billion in 50,000 cases over the past few years.Dawn reported that the financial irregularities ... Read more...
Posted in South Asia |
Excise official hints at delay in new tax regime
June 28th, 2011 - 10:26 pm ICT by IANS
Kolkata, June 28 (IANS) Citing constitutional amendments and other legislative procedures, Central Board of Excise and Customs (CBEC) Chairman S.D. Majumder Tuesday said the government's plan to roll out the ... Read more...
Posted in Business |
Extra efforts needed to achieve tax targets: Pranab
June 8th, 2011 - 6:05 pm ICT by IANS
New Delhi, June 8 (IANS) Sustained and strategic efforts are needed to achieve the challenging targets of tax collection during the current financial year, Finance Minister Pranab Mukherjee said ... Read more...
Posted in Uncategorized |
Pakistan collects one trillion rupees as taxes in nine months
April 2nd, 2011 - 5:18 pm ICT by ANI
Islamabad, April 2(ANI): Pakistan's Federal Board of Revenue (FBR) has collected over one trillion rupees in taxes in the first three quarters of the current fiscal year.The collection represents a 12.8 per ... Read more...
Posted in South Asia |
CII, FICCI welcome withdrawal of service tax on healthcare
March 22nd, 2011 - 10:34 pm ICT by ANI
New Delhi, Mar 22 (ANI): The Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI) have welcomed the decision of Union Finance Minister Pranab Mukherjee ... Read more...
Posted in National |
Mukherjee announces withdrawal of service tax on healthcare
March 22nd, 2011 - 3:06 pm ICT by ANI
New Delhi, Mar 22 (ANI): Union Finance Minister Pranab Mukherjee on Tuesday announced the withdrawal of five percent service tax on healthcare.He also introduced a Constitution Amendment Bill in the Lok ... Read more...
Posted in National |
Bengal’s political parties give mixed reaction to budget
February 28th, 2011 - 10:23 pm ICT by IANS
Kolkata, Feb 28 (IANS) West Bengal's political parties Monday gave a mixed reaction on the budget with the state's ruling Left Front denouncing it as "anti-people" and favouring the "cream of the ... Read more...
Posted in Business |
Excise duty exemptions from 130 items to be removed
February 28th, 2011 - 2:57 pm ICT by IANS
New Delhi, Feb 28 (IANS) The government has decided to withdraw excise duty exemptions from 130 items, mostly consumer goods, with a view to align the taxation system with the proposed ... Read more...
Posted in Business |
Indirect tax collections up 42 percent in eight months
December 15th, 2010 - 9:56 pm ICT by IANS
New Delhi, Dec 15 (IANS) Revenues from indirect taxes in India jumped up 42.3 percent to Rs.2,07,756 crore in the first eight months of the current fiscal (2010-11), led by 67 percent ... Read more...
Posted in Business |
Indirect tax mop-up rises to 42.4 percent
November 16th, 2010 - 10:14 pm ICT by IANS
New Delhi, Nov 16 (IANS) Collections from indirect taxes that include customs, central excise and service tax, soared to 42.4 percent in April-October period year-on-year, official data showed Tuesday.Total revenue collections ... Read more...
Posted in Business |
Indirect tax mop-up surges 44.4 percent in six month
October 14th, 2010 - 5:05 pm ICT by IANS
New Delhi, Oct 14 (IANS) Indirect tax collection rose 44.4 percent to Rs.1,50,686 crore in the first six months of the current fiscal, led by an almost 67 percent increase in ... Read more...
Posted in Business |
Government to collect Rs.7.45 lakh crore tax in 2010-11
September 29th, 2010 - 5:50 pm ICT by IANS
New Delhi, Sep 29 (IANS) The government is confident of meeting its tax revenue target of Rs.7.45 lakh crore for the current fiscal, Revenue Secretary Sunil Mitra said Wednesday."We will certainly ... Read more...
Posted in Business |
Indirect tax mop-up surges 46 percent to Rs.1,24,170 crore
September 14th, 2010 - 7:44 pm ICT by IANS
New Delhi, Sep 14 (IANS) The government's revenue from indirect taxes which include customs, central excise and service tax, surged nearly 46 percent to Rs.1,24,170 crore in the first five months of ... Read more...
Posted in Business |
DTC bill in current session, GST will be delayed
August 24th, 2010 - 7:50 pm ICT by IANS
New Delhi, Aug 24 (IANS) The government is likely to introduce the Direct Taxes Code (DTC) bill in the current monsoon session of Parliament, but the constitution amendment bill on GST ... Read more...
Posted in Business |
Businesses favour single GST rate at federal, state levels
August 16th, 2010 - 8:01 pm ICT by IANS
New Delhi, Aug 16 (IANS) A majority of businesses want a single rate of goods and service tax (GST), both at the state and federal level, and expect the tax reform ... Read more...
Posted in Business |
Cut motion if fuel duties hike not withdrawn: CPI-M
March 26th, 2010 - 9:18 pm ICT by IANS
New Delhi, March 26 (IANS) Terming the 2010-11 budget presented by Finance Minister Pranab Mukherjee as of a "pro-big business" and a "pro-rich" orientation, the Communist Party of India-Marxist (CPI-M) Friday ... Read more...
Posted in Politics |
Relative calm as parliament debates motion of thanks (Parliament Roundup)
March 4th, 2010 - 8:12 pm ICT by IANS
New Delhi, March 4 (IANS) Barring a brief adjournment of the Lok Sabha, relative calm prevailed in parliament Thursday as it got down to discussing the motion of thanks on the ... Read more...
Posted in Politics |
Government taxing poor to pay the rich: Yechury
March 4th, 2010 - 6:45 pm ICT by IANS
New Delhi, March 4 (IANS) Virtually charging the government with taxing the poor to pay the rich, Communist Party of India-Marxist (CPI-M) PM Sitaram Yechury made an impassioned plea in the Rajya ... Read more...
Posted in Business |
CPI-M slams PM refusal to roll back fuel price hike
March 3rd, 2010 - 2:07 pm ICT by IANS
New Delhi, March 3 (IANS) The Communist Party of India-Marxist (CPI-M) Wednesday said the government's refusal to roll back the fuel price hike "reflects a flawed economic thinking and insensitivity to ... Read more...
Posted in Business |
‘Hike in MAT will impact smaller IT firms’
February 26th, 2010 - 6:31 pm ICT by IANS
Bangalore, Feb 26 (IANS) The three percent increase in minimum alternative tax (MAT) to 18 percent from 15 percent for the next fiscal in the budget would impact small and medium ... Read more...
Posted in Sci-Tech |