The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
Bihar Deputy Chief Minister Sushil Kumar Modi said, a hike in GST rates would have hampered consumption amid the economic slowdown. The revenue augmentation panel in the Council meeting recently recommended revisiting and restructuring the GST rate slabs, besides correcting the inverted duty structure. The panel listed 24 items, including mobile phones, footwear, fabrics, LED light, medical equipment, utensils, agri machinery, pharma, and renewable components, which have an inverted duty structure, resulting in refunds of close to Rs 20,000 crore annually.
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
'We now look at divestment as an opportunity for maximising the value of public assets, not necessarily as a short-term resource-raising measure.'
The IT department has a designated official to execute these rare powers.
Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital, finds itself in a bind as the Directorate General of GST Intelligence (DGGI) has issued multiple Show Cause Notices (SCNs) amounting to Rs 922.6 crore. This development comes at a time when Reliance Capital is currently undergoing a debt resolution under the National Company Law Tribunal (NCLT) process in which the Hinduja group has emerged the winner. The Hinduja acquisition is currently awaiting the Supreme Court's approval after the Torrent group, the winner of the first round, challenged the second auction conducted by the lenders of Reliance Capital.
'There was a statement by a minister that 30,000 Kashmiri Pandits have come back to the Kashmir Valley after the abrogation of Article 370, it is all b.......t and a white lie.' 'Nobody has come back.'
Almost 25 per cent central government posts were vacant as of March 2022, compared to 9.4 per cent in March 2002.
The Enforcement Directorate (ED) has attached 8.86 acres of land in Ranchi allegedly owned by former Jharkhand chief minister Hemant Soren as part of a money laundering investigation against him and his associates, the federal agency said on Thursday.
The Enforcement Directorate on Tuesday conducted raids against Hero Motocorp executive chairperson Pawan Munjal and others as part of a money laundering investigation, official sources said. The searches were carried out at premises located in Delhi and neighbouring Gurugram in accordance with provisions of the Prevention of Money Laundering Act (PMLA).
"Are we not giving a picture that there is no other person and the entire department is full of incompetent people?" a bench headed by Justice B R Gavai told Solicitor General Tushar Mehta.
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
The Madras high court on Friday upheld a trial court order convicting over 200 men, including forest and police officials and sentencing them to various prison terms for atrocities committed against tribals including rape, where the victims included a minor girl and a pregnant woman.
Revenue from divestment has fetched Rs 40,000-50,000 crore against target of Rs 2.10 trillion.
Chaudhary Charan Singh, who on Friday was conferred with India's highest civilian award Bharat Ratna, is popularly known as a champion of farmers.
Amid a fresh wave of protests in Maharashtra over the Maratha quota demand, authorities in Dharashiv district of the state on Wednesday started distributing Kunbi caste certificates to the eligible Maratha community members, paving the way for their inclusion in the OBC category.
The case was registered against the minister and four others earlier this week on the orders of the high court, after the local police allegedly did not act on the complaint filed with them.
Rebel Himachal Pradesh Congress MLA Rajinder Rana on Saturday claimed that nine more party legislators 'feeling suffocated' due to Sukhvinder Singh Sukhu's style of functioning are in touch with him as he called the chief minister 'liar number one'.
This is part of a strategy to mop up as much revenue as possible in the current financial year.
The government has set a revenue target of Rs 9 lakh crore during the current financial year, a top official said.
The revenue from GST for the current fiscal has been pegged at over Rs 4.44 lakh crore, while for next fiscal it is Rs 7.43 lakh crore.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
To take the 'Idea to Enterprise' journey, you need to be open about your idea and articulate it to potential customers, existing entrepreneurs, experts in your industry and well-wishers.
'Karnataka's finances are much healthier than the Union government's, which is indebted to nearly twice the extent of the state.'
Deputy Chief Minister Manish Sisodia holds as many as 18 of the total 33 departments, including education, finance and home.
An improvement in the wind speed November 21 onwards might bring air pollution levels down.
Market concentration in the country's telecom sector continues to scale new heights despite government bailouts of public-sector Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), and private-sector Vodafone Idea. The combined revenue (or net sales) share of the country's top two telecom operators - Bharti Airtel and Reliance Jio - in the sector's total reached an all-time high of nearly 72 per cent in FY23 from 70.4 per cent in FY22 and around 60 per cent in FY20. The net sales of Reliance Jio and Bharti Airtel India were Rs 1.67 trillion in FY23, up 18.6 per cent from the Rs 1.4 trillion a year earlier.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
There are doubts about the meeting of indirect tax collection target for the current fiscal as there is slowdown in the economy.
India's recent move to remove additional 'retaliatory' duty on eight products from the United States (US), including apples and walnuts, would not have any negative impact on the domestic producers, the government clarified, even as the issue threatened to snowball into a political slugfest between the ruling and Opposition parties. The move would, in fact, result in competition in the premium market segment, ensuring better quality at better prices for consumers, especially for apples, a senior government official said. "There were certain concerns that were being raised on the mutually agreed solution that has come in, more specific to seven-eight agriculture products where we had levied additional import duties in retaliation to the steel and aluminum measures (imposed by the US)," Peeyush Kumar, additional secretary in the commerce department, told reporters in a briefing.
PMO asked income-tax department to submit report on action taken against identified benami owners
The revenue department retrieved about 40 kanals of land allegedly occupied by the owners of Hotel Nedou's at MA Road in Srinagar, officials said.
The minister said the companies have given representation which is being examined by the DoT before taking a final decision.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
The ED had attached Sai Resort NX, constructed over the land located at Gut no: 446, Murud in Ratnagiri's Dapoli, in January.
Amidst suspense about his whereabouts, Jharkhand Chief Minister Hemant Soren has reached his official residence in Ranchi, a source in the Chief Minister's Office (CMO) said on Tuesday.
The "compromise" between Sri Krishna Janmasthan Seva Sansthan and Shahi Masjid Idgah made in 1968 was also challenged in the suit, according to lawyers.
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