The panel's report also provides a range for fiscal deficit and debt path of both the Union and states and also recommended additional borrowing room to states based on performance in power sector reforms. Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman.
Chief Minister Basavaraj Bommai held a meeting with experts, and senior ministers and officials of his government to assess the COVID-19 situation in the state and curbs that were put in place to control its spread.
The company has made payment in compliance with Telecom Department's instructions for self assessment, Mittal said, adding that the Supreme Court had not mentioned specific amounts.
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The minister was speaking at a review meeting of Principal Chief Commissioners, Principal Directors General, Chief Commissioners of I-T in New Delhi on Thursday in order to assess the revenue collection target for 2014-15 fiscal.
Scrapping Plan and non-Plan classifications necessitates the change
Tax department feels that the second quarter would be much better than the first quarter of the year as the economy has started improving.
After a review meeting held at the Pathanamthitta District Collectorate to assess the situation, Rajan and state health minister Veena George said at a press conference that it has been decided to open the Kakki dam to release around 100-200 cumex water which would increase the water level of Pampa river by around 15 centimetres.
AGR dues calculated by the government for 16 entities add up to Rs 1.69 lakh crore, while telcos' self-assessment place their dues at a mere Rs 37,176 crore.
Pakistan Cricket Board has suffered massive revenue losses but it doesn't need India to 'survive' and keep its finances flowing, PCB chairman Ehsan Mani said on Tuesday. Terming the BCCI as 'unreliable', Mani said Pakistan cricket is vibrant and strong enough despite not playing any bilateral series with India for a long time now.
CBDT has sought explanation from B R Balakrishnan, former director-general of I-T (investigation wing) and former principal chief commissioner of I-T for Karnataka and Goa, who had ordered attachment of CCD's shares when he was in charge of the Bengaluru region. He retired last month.
According to the latest health department bulletin, the positivity rate has also jumped to 9.55 per cent, amid the festive season and the rise in pollution level.
In a video, which has gone viral on social media, Sanjay Kumar is purportedly heard telling a power official on phone, "Please provide me the data pertaining to the raids conducted by you in Muslim houses from April 1 till date, and also, tell me against how many people you have got FIR registered."
This will boost availability of these items as well as make them cheaper, it said, adding that Modi also directed the revenue department to ensure seamless and quick custom clearance of such equipment.
It would be difficult to stick to the Budget numbers unless the departments are reined in their expenditure plans.
Airtel, Vodafone-Idea and other telecom operators may have to pay the government a whopping Rs 1.42 lakh crore following the Supreme Court order last week that sent shock waves through an industry already grappling with billions of dollars in debt and an intense tariff war to retain customers.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
Direct tax collections grew by a meagre 6.6 per cent during April-July of the current financial year against the Budget target of 14.4 per cent for 2018-19. Corporation taxes, in particular, grew at just 0.57 per cent, the lowest in the first four months in at least seven years.
Underlines need to reduce human interface; wants tax e-assessment in more cities
'It is entering growth territory on a month-on-month basis.'
"I have earlier appeared for the inquiry five times. The Anti-Corruption Bureau (ACB) had filed a C-summary report in a Pune Court that there is no truth in the allegations and the case be closed," he said.
In a set of FAQs on applicability of Goods and Services Tax on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
The Yogi Adityanath government on Wednesday transferred 20 senior IAS officers, shunting out Principal Secretary-Information Navneet Sehgal and others who wielded considerable influence under the Akhilesh Yadav dispensation.
No untoward incident has been reported so far in the bandh called by the All Minority Organisations Coordination Committee, which includes the All Assam Minority Students Union (AAMSU) and the Jamiat-e-Ulema among others, that began at 5 am on Friday, a police officer said.
The finance minister has labelled about 65 per cent of the fuel excise revenue as cess, including the restructured road and infrastructure cess
He was last month appointed as Secretary in Department of Economic Affairs in place of his batchmate Arvind Mayaram, who was first shifted to Tourism and then to Minority Affairs Ministry.
The Vivaad se Vishwas scheme is a replica of the Sabka Vishwas (Legacy Dispute Regulation) Scheme, 2019 (SVLDRS) for indirect tax litigation. The hope is that this would unlock revenue blocked in long-drawn litigation at various forums. Sources in the department say the total value at stake in these disputes would be Rs 5-6 trillion.
Finance ministry tells PM fiscal deficit target will be met, capex expenditure won't be cut and GDP growth will surpass 7.5%.
Spurring the economy, currently in the throes of a slowdown, remains the prime focus for most ministries, but the government is also looking to make women's welfare and environmental protection key to policymaking in this term.
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