tax revenues

What is Budget?

Finance - What is the Budget? Why is it so important? Why does it affect all of us? And, above all, how does one interpret the budgetary lingo flying around? Union Budget is the annual report of India as a country. It contains the government of India's revenue and expenditure for the end of a particular fiscal year, which runs from April 1 to March...

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GST rate may be 12% instead of most believed 16%

Finance - The proposed goods & services tax (GST) could turn out to be a far more benign impost than anyone expected.In what would amount to a radical tax reform, the 13th Finance Commission is understood to have arrived at a revenue-neutral rate of around 12%, at least 4 percentage points lower than what most believed the combined Centre-state rat...

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State should be compensated for loss of revenue on implementation of GST

Finance - States that have huge mineral and petroleum reserves, but are economically backward may face significant loss of tax revenues on implementation of goods and services tax (GST), according to economists and experts in public finance. Introduction of GST would lead to the abolition of central sales tax (CST), which is collected by state gove...

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Income tax department considering publishing the names of tax defaulters

Finance - Tax defaulters beware. The income tax department is considering publishing the names of habitual tax defaulters with large tax demands pending. According to official sources, the department is planning to compile a list of all cases, where there is a tax demand of over Rs 1 crore with no pending appeals....

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Excise revenue dips and rise in number of defaulters

Finance - The excise department has registered a significant rise in number of defaulters in the last four months of the current financial year in the state. The rising default has added to the woes of excise department, which has already registered a fall in growth of excise income. As per data available with the central excise […]...

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Scrutiny of A.Y, 2008-09 Returns To Take Place in Current Fiscal

Finance - In a major departure from the usual practice, the Central Board of Direct Taxes (CBDT) has issued directions that scrutiny of the self-assessment returns filed by September 30, 2008 for the financial year 2007-08 will be taken up in the current fiscal....

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Recent Posts in "tax revenues"

What is Budget?

What is the Budget? Why is it so important? Why does it affect all of us? And, above all, how does one interpret the budgetary lingo flying around? Union Budget is the annual report of India as a country. It contains the government of India's revenue and expenditure for the end of a particular fiscal year, which runs from April 1 to March...

Read More
Posted Under: Income Tax |

GST rate may be 12% instead of most believed 16%

The proposed goods & services tax (GST) could turn out to be a far more benign impost than anyone expected.In what would amount to a radical tax reform, the 13th Finance Commission is understood to have arrived at a revenue-neutral rate of around 12%, at least 4 percentage points lower than what most believed the combined Centre-state rat...

Read More
Posted Under: Income Tax |

State should be compensated for loss of revenue on implementation of GST

States that have huge mineral and petroleum reserves, but are economically backward may face significant loss of tax revenues on implementation of goods and services tax (GST), according to economists and experts in public finance. Introduction of GST would lead to the abolition of central sales tax (CST), which is collected by state gove...

Read More
Posted Under: Income Tax |

Income tax department considering publishing the names of tax defaulters

Tax defaulters beware. The income tax department is considering publishing the names of habitual tax defaulters with large tax demands pending. According to official sources, the department is planning to compile a list of all cases, where there is a tax demand of over Rs 1 crore with no pending appeals....

Read More
Posted Under: Income Tax |

Excise revenue dips and rise in number of defaulters

The excise department has registered a significant rise in number of defaulters in the last four months of the current financial year in the state. The rising default has added to the woes of excise department, which has already registered a fall in growth of excise income. As per data available with the central excise […]...

Read More
Posted Under: Income Tax |

Scrutiny of A.Y, 2008-09 Returns To Take Place in Current Fiscal

In a major departure from the usual practice, the Central Board of Direct Taxes (CBDT) has issued directions that scrutiny of the self-assessment returns filed by September 30, 2008 for the financial year 2007-08 will be taken up in the current fiscal....

Read More
Posted Under: Income Tax |

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