Advisory in this regard was issued by the Gujarat government three days before Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1000 notes.
With a staff crunch, it seems the I-T department would now target only the big fish rather than go after small assessees.
'Day by day, the queues will shorten.'
Information gathered from a person's social media account will be matched with his or her declared income.
The Centre is likely to introduce the Central GST and integrated GST bills in late November or early December in the ongoing session in the form of money Bills.
'It is going to be as high as 50% in the coming one or two months and can be about 20% to 25% in the medium term.'
Amid persistent fear of prosecution and penalty, people across income classes are looking for ways to do away with stacks of higher denomination currency.
The government will assess how cash deposits after the demonetisation could be brought under the tax net, says Revenue Secretary Hasmukh Adhia.
"At present, there are two main rate slabs under which sa majority of goods are covered -- five per cent and 12.5 per cent -- which will now increase to three (five per cent, 12 per cent and 18 per cent).Will this result in multiple litigations is anybody's guess."
If receipts from disinvestment, tax buoyancy and black money scheme offset shortfall in spectrum sale, higher expenditure due to pay commission's recommendations and capital expenditure, then the government would be able to meet the target of controlling fiscal deficit at 3.5 per cent of GDP this financial year.
Unlike Ratan Tata's philosophy, Mistry cared about short-term gains. This is a Diwali gift for many
In 2015-16, the overall apple production in India stood at 2.8 million, bulk of which came from J&K, followed by Himachal Pradesh, Uttarakhand, Arunachal Pradesh, Nagaland, Sikkim and Tamil Nadu
'GST gives a huge relief to small businesses of India and West Bengal.'
Assets worth only Rs 4,000 cr declared till mid-August; govt expects pick-up in last 2 weeks
The news that Welspun has run into trouble with one of its biggest US-based clients has stressed its suppliers and investors alike
If the Anandiben Patel administration was shaken by the Patidar agitation, the Vijay Rupani government would have to deal with the Jignesh Mevani-led Dalit movement.
Middle class constituted about 49 per cent of the total tax payees in financial year 2011-12
Sources indicated that Tata Salt has set aside about 8-10% of their marketing budget for the Olympics this year.
Savji Dholakia, the diamond magnate who sent away his son to gain a 'hands-on' life experience, likes to do things the hard way.
Petroleum being out of the goods and services tax initially will create some anomaly as tax credit on some of the inputs to oil industry may not be given, said revenue secretary Hasmukh Adhia.
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