To ensure a glitch-free rollout of the next-generation GST with reduced rates and lesser slabs, Finance Minister Nirmala Sitharaman chaired three separate meetings to assess GSTN's preparedness and the time it would take to implement technological changes required in the software systems.
The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. "We have asked banks to undertake comprehensive review of the gold loan business," financial services secretary Vivek Joshi told PTI.
The income tax department has garnered about Rs 4,600 crore in taxes from 56 lakh updated I-T returns filed by taxpayers in the past two years, Central Board of Direct Taxes (CBDT) chief Nitin Gupta said. In a post budget interview to PTI TV, Gupta also said the I-T department has set up a demand management centre at Mysuru, Karnataka, which is focusing on disputed pending large tax demands of above Rs 1 crore. "We are continuously improving the services and creating litigation free environment. We have come out with a facility for updation of return.
Donning a flowing white chola' and a navy blue turban and often escorted by armed supporters, radical preacher and Khalistan sympathiser Amritpal Singh has been quite active in Punjab for some time.
Prime Minister Narendra Modi on Friday expressed hope that G20 will draw inspiration from the vibrancy of the Indian economy and work towards bringing back stability, confidence and growth on the global landscape.
RBI Governor Shaktikanta Das on Friday called upon G20 nations to resolutely address the challenges, like threats to financial stability and debt distress that confront the global economy. Addressing the inaugural session of the meeting of G20 finance ministers and central bank governors, Das said although the outlook for the global economy has improved in recent months and there is now greater optimism that the world may avoid a deep recession and only experience slow growth or softer recession,"yet uncertainties lie ahead of us." "Together we must resolutely address the challenges that confront us, including those that are of medium to long-term nature such as threat to financial stability, debt distress, climate finance, fractures in global trade and strains on global value chains.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
The fate of the ministerial conference was sealed after assistant US trade representative Sharon Bomer Lauritsen said permanent solution to the food stockholding issue was not acceptable to America.
Rubbishing Congress' claim of having blacklisted AgustaWestland, Finance Minister Arun Jaitley on Wednesday said he had as defence minister in June 2014 put the transaction to buy 12 helicopters from the Italian firm on hold and in July barred any future contract with it.
Seeking investments to boost growth, Finance Minister Arun Jaitley on Thursday vowed a corruption-free governance.
The Finance Ministry is considering a proposal to rope in professionals from the private sector for appointment of chairman and CEO-cum-managing director in state-owned financial institutions as it looks for talent from a wider pool of applicants.
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Banks had a tough time in recovering loans from corporates in 2014.
RBI has kept interest rate unchanged at 8 per cent since January
India too will advocate the IMF quote reforms at the two-day meeting of G20 Finance Ministers and Central Bank Governors beginning Saturday.
The Central revenue department is inquiring into the payment of service tax by the event management firm which had organised the controversial Thinkfest on behalf of the Tehelka magazine.
The Central revenue department is inquiring into the payment of service tax by the event management firm which had organised the controversial Thinkfest on behalf of the Tehelka magazine.
After taking charge, P Chidambaram promised fine-tuning of policies and place a stable tax regime.
The tax authorities and insurance regulator Irda are working on the possibility of removing Service Tax on first premium.
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