'The finance minister missed yet another opportunity to simplify the income tax structure in the Budget.' 'This was an opportune moment to get rid of the old tax system entirely and move fully to the new system,' asserts M Govinda Rao, member of the 14th Finance Commission.
Nivedita Mookerji goes in search of the elusive war room to track and respond to the coronavirus threat.
"My son used to say that there is a lot of corruption but he will fight as he is on the path of truth. He was broken from inside, though he didn't tell anyone anything," Subhash's father Pawan Kumar told ANI.
The Bill seeks to give Sebi sweeping powers like attachment of properties and launch of recovery proceedings.
Ambani won unanimously with 100 per cent of vote at the 142nd IOC session in Paris.
They've proposed a sub-committee under the proposed GST Council or the Empowered Committee of State Finance Ministers to resolve any disputes in the tax's implementation.
Finance Minister P Chidambaram on Monday exuded confidence that the centre will be able to sort out the issues concerning implementation of the Goods and Services Tax (GST) shortly.
Terming it a "very sorry state of affairs", the apex court said the state was just trying to find some excuse or the other.
Kerala on Tuesday said it is ready for joint control with Tamil Nadu and the Centre, if a new dam is built in place of the 116-year-old Mullaperiyar reservoir, over which the two states are locked in a dispute.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
The GST reform has virtually come to a standstill.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Recently, Sebi has revised the Code of Corporate Governance for listed companies significantly. Most revisions are in sync with the provisions in the Companies Act 2013, though some norms are stricter than those in the Companies Act 2013.
The Empowered Committee of state finance ministers is meeting under the chairmanship of West Bengal finance minister Asim Dasgupta to work out agreements on various aspects of the GST.
After failing to convince states to keep petroleum products within the ambit of the proposed goods and services tax (GST), the Centre has finally relented. It has agreed to the proposal of the empowered committee of state finance ministers to keep petroleum products like crude, motor spirit, aviation turbine fuel (ATF) and high-speed diesel out of GST.
Businesses with more than Rs 10 lakh turnover may end up paying the central goods and services tax, with the Centre not agreeing to states' suggestion of keeping the threshold at Rs 1.5 crore.
Vice President Kamala Harris' White House bid gets a boost from legendary Indian music composer A R Rahman, who has come out in support of her 'vision for an equitable world', and recording some of his popular songs like 'Jai Ho' to inspire Indian American voters.
Uttam Prakash Agarwal alleged that Citax and Braich offers were incomplete and did not include firm commitment as to the price, size, timings, confirmation from the banks about availability of the funds.
The central government, in its revised draft of the constitution amendment bill, had proposed that fuel and liquor should be brought under the ambit of GST.
It appears that things will crystallise on several aspects of the GST only by end 2008. This means that the country will only have a period of 15 months, from beginning 2009 to March 2010, to ensure that all the constitutional policy and legislative changes take place. It does seem increasingly a big challenge, says S Madhavan.
'The media is portraying the Malayalam film industry as the worst place, but that's not true.'
Sushil Kumar Modi, who ceased to be Bihar Finance Minister following the JD (U)-BJP split, on Monday resigned as Chairman of the Empowered Committee of State Finance Ministers looking into the implementation of the proposed new indirect tax regime - Goods and Services Tax (GST).
The members who were present at the 93rd BCCI Annual General Meeting (AGM) in Bengaluru on Sunday requested incumbent secretary Jay Shah to speed up the process of finding his successor to keep the transition of power as smooth as possible.
The Tamil Nadu government has told the Supreme Court that "repeated assertion" by Kerala to seek decommissioning of the 126-year-old Mullaperiyar dam is "wholly impermissible" as the dam has been found to be hydrologically, structurally and seismically safe.
All textile items, currently exempted from value added tax, will attract 4 per cent VAT from the next fiscal, the empowered committee said on Thursday.
Empowered committee of state finance ministers on value-added tax has sought to allay fears of traders that the new tax system will lead to increase in prices, stating that the worldwide experience did not support this apprehension.
The empowered committee on value added tax will meet on Saturday to take up the issues arising after three months of implementation of the new tax system by 21 states, including compensation formula for any losses incurred by states due to VAT.
The Empowered Committee of State Finance Ministers has been asked to sort out some of the contentious issues on the value-added tax including the refunds on credit and exemption for exports.
The much-awaited introduction of value added tax regime from April one this year will be delayed by a few days because of some "unavoidable procedural tangles".
In a major step towards introduction of Value-added Tax from April 2005, states on Wednesday endorsed a 'white paper' on the new tax regime, which would be formally issued on January 17.
The committee headed by former Chief Justice of India A S Anand is expected to submit its report on the controversial issue by February, 2012.
'Has the BJP not announced its candidates in Raebareli?'
