The government has set the indirect tax collection target for the current fiscal at Rs 3.92 lakh crore (Rs 3.92 trillion) and for direct taxes at Rs 5.32 lakh crore (Rs 5.32 trillion).
As many as 30 sub-groups and committees worked tirelessly to devise rules and laws as well as fix tax rates for over 1,200 goods and services.
The Board of Control for Cricket in India, is locked in a legal battle with the Service Tax (ST) department, which has demanded an amount of Rs 536 crore (approx) as taxes on cricket board's earnings from royalty and media rights in the last one decade.
SGI Commex chairman G S Srivastava, an art connoisseur, said the aircraft, an Airbus A319-133 with registration of CJ VT-VJM, will be converted into an art pilgrimage venture
Finance Ministry has asked excise and service tax officials to exercise caution while summoning CEOs and top functionaries of large firms or PSUs for probing any revenue cases.
These builders had collected the taxes from prospective buyers but had failed to deposit them.
Service tax accounts for one-third of the total indirect tax collection in the country and the government expects to raise Rs 1.8 lakh crore (Rs 1.8 trillion) through the levy this fiscal.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
Women candidates have bagged the three top slots in the prestigious Civil Services examination to select Indian Administrative Service and Indian Police Service officers among others.
UPSC toppers -- Ira Singhal, Nidhi Gupta, Vandana Rao and Suharsha Bhagat -- tell Rediff.com how they cracked the tough national exam.
'Coupled with e-filing procedures it would really enhance the ability of the judiciary to provide speedier justice.'
The government is going all out to spread awareness about the new indirect tax regime, and training lawmakers is being seen as a necessary first step.
Ironically, West Bengal, which has been seeking a postponement of the GST roll-out, has fared better among most other states.
A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business.
Pushing people to litigation is a major source of tax uncertainty.
Meet Jasmeet Singh Sandhu who ranked third in the Union Public Service Commission exam this year.
B L Agrawal, a principal secretary in the Chhattisgarh government, was arrested for allegedly bribing people to help him wriggle out of corruption cases pending against him, while J P Singh, a former joint director of in Enforcement Directorate, was held for accepting illegal gratification to favour the accused in the Indian Premiere League betting scam.
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
No mention of cab aggregators in GST bills
The comments come at a time when the Supreme Court-constituted Special Investigation Team has detected funds worth about Rs 4,479 crore (Rs 44.79 billion) held by Indians in a Swiss branch of HSBC bank, while unaccounted wealth totalling Rs 14,958 crore (Rs 149.58 billion) have been traced within home.
Following the Supreme Court ruling against liquor being sold within 500 metres of state and national highways, the infamous Indian jugaad is in play once again. Veenu Sandhu, Nikita Puri, Ranjita Ganesan & Avishek Rakshit find out how India is coping.
On Thursday, violent mobs went on the rampage in the Nagaland capital vandalising and setting on fire government offices and vehicles, prompting deployment of five columns of army to bring the situation under control.
Bombay High Court view opposed to this was wrong.
The Election Commission has a fight on its hand as candidates use ingenious methods to smuggle in money to Voters.
Official sources said the government has decided to transfer Kalia from her current post as Fatehabad SP, adding formal orders will be issued soon.
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The power of a nation is directly related to the revenues it realises from its citizens. But India loses a gargantuan Rs 5.8 lakh crore, as the IT department drags its feet over recovering uncollected taxes in time or holding up files in appeal cases, says Mohan Guruswamy.
The time the companies have to get ready for GST is 6 to 12 months.
'People residing in the enclaves have led completely isolated lives. They are stateless, have no official identity proof.' 'It is significant that Modi, Banerjee, Sarkar and Gogoi, despite having different political ideologies, are walking in tandem for the cause of the people residing in the enclaves.' 'If the LBA betters the economy of India and Bangladesh, there will be less turmoil in both these countries.'
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