A pick-up in low-cost cigarette consumption helped India's largest cigarette maker boost margins
Common return for excise duty and service tax was envisaged when 119 services were taxed.
It has always been accepted in various apex court rulings that economic policy is not justiciable. It can intervene only if the legislation is seen to violate fundamental rights says Sukumar Mukhopadhyay.
The Parthasarathy Shome committee gives its second reform report to finance ministry.
Pharma shares extended losses after the government's ban on combination drugs.
Its officers would wear black bands on Monday, which is also Martyrs day, the IRS Association (Customs and Central Excise) has said.
Never before in post-reforms India have Union Budgets seen a steady reduction in fiscal deficit for five consecutive years, points out A K Bhattacharya.
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.
Sharma says efforts on to bring dissenting ministries on board eBiz platform.
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.
The goods and services tax will level the playing field for different sectors of industry, including domestic manufacturing.
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.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
Top management of firms should be summoned for a few specified reasons and after written justification at a senior level.
Chidambaram to meet revenue boards on how to get much more and quickly; special audits and notices among measures likely.
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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
The minister said any declaration made under the law will be protected
Here are highlights of the 68th Republic Day parade.
The very design of the GST will bring in revenue buoyancy.
Senior New Delhi-based journalist R Rajagopalan, who has been closely following the Union Budget preparations since 1977, lifts the veil off India's most secretive operation.
States' demand of compensation from Centre for loss of tax revenue not on agenda.
States' demand for 5 years and Constitutional provision ruled out
The time the companies have to get ready for GST is 6 to 12 months.
Several exemptions have been given to reduce the cost of raw materials.
Despite crude comfort, heavy spending cuts needed to offset Rs 80k-cr revenue shortfall
It emphasised that agricultural infrastructure needs considerable investments and hence Section 80IA benefits must be extended to all such investments like IT infrastructure, computers, VSAT, solar panels, water harvesting facilities, storage etc.
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