While the government has the option of ensuring the passage of these Bills as money Bills, there are voices within the government advising discretion on the GST roll-out by April 1.
This article tries to strip off the jargon and present the contents of the current act with respect to the punishments and penalties applicable to various offences as defined by the tax man.
Rajya Sabha chairman Jagdeep Dhankhar on Tuesday nominated former home minister and Congress member P Chidambaram to the department-related parliamentary standing committee on home affairs.
'The people of Tamil Nadu in particular Chennai know about the double standards of the BJP. Nothing will work for them here.'
TMC Rajya Sabha MP and leader of the party in the Upper House Derek O'Brien and Sudip Bandyopadhyay, Lok Sabha MP and leader of the party in the Lower House, have written to presiding officers of both Houses, urging then to wind up proceedings on Monday (March 23).
Let there be a rule that if the Budget is not passed and funds cannot be drawn from the Consolidated Fund of India, there will be a government shutdown as it happens in the United States, says A K Bhattacharya.
Move to shift powers from RBI without discussions baffles many
It is day 5 of the Budget session of Parliament on Tuesday and Prime Minister Narendra Modi is likely to reply on Presidential speech in Lok Sabha.
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
As the adjournment of Parliament for an indefinite period with the Rajya Sabha also adjourning sine die kickstarts the final countdown for the general elections, Modi said the last five years were a period of "reform, perform and transform" with the country moving towards "big changes" at a fast pace.
'If such inflows materialise, what will be the effect on the rupee's value -- and therefore on exports growth, the only sustainable path to recovery?', asks Mihir S Sharma.
They may splurge on expensive dresses, but when it comes to managing family finances, women are significantly better than men, a new study has revealed.
Will Parliament function on ninth day of second leg of budget session.
The distance between North Block and Mint Road has been growing for quite some time. The latest evidence of tension is the finance ministry's decision to introduce a clause in the Banking Amendment Bill allowing banks to trade in commodity futures, despite the central bank's reservations on the issue.
Structural changes to government finances could be focus of the Union Budget, says Mihir S Sharma.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
'When our daughters, wrestlers Sakshi Malik and Vignesh Phogat, were protesting at the Jantar Mantar, the police kicked them with their shoes.'
Bengal Finance Minister Amit Mitra expressed confidence in GST.
The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
The interim Budget proposals that will be presented on February 1 in the backdrop of the general elections scheduled in April/May 2024 are likely to have a hint of populism, believe analysts, but are unlikely to derail the government from its path of fiscal prudence.
Pranab Mukherjee said the government proposes to move various legislative Bills related to financial sector reforms.
The GST revenues for August 2023 have shown a growth of 11 per cent year on year due to increased compliance and less evasion, Revenue secretary Sanjay Malhotra said on Friday. The collection from Goods and Services Tax (GST) was Rs 1,43,612 crore in August 2022. "Roughly numbers are in the range of 11 per cent year on year growth as in earlier months," Malhotra told reporters.
Rajya Sabha witnessed heated exchanges between the treasury and opposition benches after Congress leader Mallikarjun Kharge made remarks on the manner in which political parties select women candidates from weaker sections and raised the issue of 'delayed' GST payments to non-Bharatiya Janata Party ruled states.
Sitharaman said the Bill has proposed giving a legal framework for fixed-term employment through which contract workers serving a fixed-tenure will get equal statutory social security benefits as regular workers in the same unit.
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
The Central Board of Direct Taxes (CBDT) has proposed a new common income-tax return (ITR), with greater focus on disclosing income from virtual digital assets or crypto assets and foreign equity and debt instruments held by resident Indians. For non-resident Indians, the draft ITR seeks exhaustive details ranging from nature of business, permanent establishment (PE), business connection, whether the entity has significant economic presence (SEP) in India, along with the number of users in India. The ITR protocol for NRIs could widen the scope of the SEP principle that was introduced in the Finance Bill 2018-19, and the explicitly defined 'business connection' to include provision of download of data or software, if aggregate payments from such transactions exceed a prescribed amount, or if a multinational's interaction is with a prescribed number of users.
Watch the live telecast from the Parliament.
The two major changes include: keeping an option open for supplying more than 3 kg of subsidised foodgrains to general households and widening its reach to include lactating women, destitute and aged people and providing nutritious food to children.
Modi said he believed that a big section of the country's democracy-loving people will appreciate the conduct of those MPs who used their wisdom and talent and showed their concerns for the masses, even though they might have been critical in their views.
Government on Thursday approved the Taxation Laws (Amendment) Bill to protect the interest of donors.
The Bills are primarily aimed at helping the MSME sector and small traders, Finance Minister Piyush Goyal said while introducing these in the Lok Sabha
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
Even though the NIA claims that more than 90 per cent of cases charge-sheeted have ended in conviction, the figure is likely misleading. To date, very few cases investigated by the NIA have resulted in a completed trial, points out former CBI joint director Navneet Rajan Wasan.
Those who have been handed the pink slip shouldn't make too many loan queries, advises Raj Khosla.
The Bill's 2007 version covered only MFIs not regulated by the Reserve Bank of India.
Years before the Supreme Court struck down as 'unconstitutional' an opaque political funding tool that allowed individuals and companies to donate money to political parties anonymously and without any limits, the then finance minister Arun Jaitley -- the prime mover of electoral bonds -- had termed them legitimate and transparent.
The sector faces many challenges and calls for prompt corrective action.
The government promised on Friday to remove distortions in excise duty on branded and packed refined oils, which analysts said allowed companies to avoid the levy.
The UIDAI, set up in 2009, will manage the generation and authentication of Aadhaar numbers.
Parliament passes Budget for 2007-08 with Rajya Sabha returning the Appropriation Bill and the Finance Bill by voice vote.
