All stories by Joyeeta Dey
2021: A year of many firsts for the revenue deptRediff.com23 Dec 2021
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
Why Air Indias' privatisation sailed & BPCL's is dragging onRediff.com19 Dec 2021
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
PM-CARES to foot over 80% cost of phase 1 of vaccination driveRediff.com2 Feb 2021
The PM-CARES fund, which has been set up to provide relief during the coronavirus pandemic, has contributed over Rs 2,200 crore for the first phase of vaccination drive, which is looking to inoculate frontline healthcare workers, the Expenditure Secretary said on Tuesday.
India's tax pie gets altered because of pandemicRediff.com4 Jan 2021
India's tax pie seems to have undergone a subtle change with a sharp drop in direct tax collections resulting from a disproportionate impact of the COVID-19 carnage on incomes. The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020. In an interview with PTI, finance secretary Ajay Bhushan Pandey said in a pandemic like this where the economy has been impacted, any large scale changes impact direct taxes more severely, whereas indirect tax collection is mostly proportional to business turnover and compliance.
GST: From 'Gabbar Singh Tax' to a strong tax-compliance toolRediff.com27 Dec 2018
The opposition parties vehemently criticised the new 'one nation, one tax' system having four different rates instead of a single rate adopted in some countries including the UK and Singapore.
From 227 items to 50! Sin, luxury goods to face 28% GSTRediff.com11 Nov 2017
Goods like chocolates, chewing gum, shampoo, deodorant, shoe polish, detergents, nutrition drinks and marble will now attract 18% GST>
Foodgrains, cereals, milk to be cheaper under GSTRediff.com18 May 2017
The GST rates for all but six items were finalised at the first day of the two-day meeting of the GST Council, headed by Union Finance Minister Arun Jaitley and comprising state representatives.
FM Jaitley, Pak minister share cold vibes at global meetRediff.com6 May 2017
Frosty Indo-Pak relations after the beheading of Indian soldiers by Pakistani troops were on full display in Yokohama, Japan.
Oppn-ruled states get Centre to delete 3 GST minutesRediff.com18 Feb 2017
In a first, Opposition-ruled states on Saturday got the Centre to delete from the records three minutes of the last GST Council meeting that provided for tweaking of agreed criteria for division of taxpayers under the Goods and Service Tax regime.
FM says Indian economy to touch $5 tn in few years. Do you agree?Rediff.com2 Jun 2016
India, he said, has opened up its markets and stepped up public investment including in the infrastructure space and is concentrating a lot on boosting expenditure to improve the quality of rural life
India Inc backs second term for RajanRediff.com2 Jun 2016
"I think the Governor has been doing a great job for the country and we would certainly see it as a very positive move if he were reappointed," Naushad Forbes, president, CII.
Economy on 'upward curve', monsoon, GST to push growth: JaitleyRediff.com1 Jun 2016
Finance Minister Arun Jaitley on Wednesday said the country is on an "upward curve" and a good monsoon, GST passage and increased infra and rural spending will further accelerate the growth.
An upbeat Jaitley woos Japanese investors; promises tax reformsRediff.com31 May 2016
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
Jaitley tries to soothe frayed nerves of global automakersRediff.com30 May 2016
Ban on large diesel vehicles a transient phase, says Jaitley
SoftBank's investments in India may surpass $10 billionRediff.com30 May 2016
SoftBank's investments in the past two years include $627 million in online-retailing marketplace Snapdeal and leading a $210 million funding round in taxi-hailing app Ola Cabs.
Divestment: India eyes fatter share sale kitty in 2015Rediff.com17 Dec 2014
The New Year 2015, however, may see shares worth over Rs 50,000 crore (Rs 500 billion) being put on the table by the government, including by way of part-sale of its holdings in PSUs and its residual minority stakes in some private sector entities.