The markets will be eyeing the amendments.
The customs duty from gold imports could be approximately Rs 8,000 crore, about less than half of what was collected a year ago.
As many as 30 sub-groups and committees worked tirelessly to devise rules and laws as well as fix tax rates for over 1,200 goods and services.
Despite crude comfort, heavy spending cuts needed to offset Rs 80k-cr revenue shortfall
CBEC has said a duty-free shop in a Customs area should not be treated as a warehouse.
The Finance Ministry has started preparations for Budget 2014-15 by asking different central ministries and departments to come out with their estimates of receipts as well as expenditure for the next financial year.
Despite finance minister's assurance, tax officials seem reluctant to take steps for tackling issues at stake
Delhi Chief Minister Arvind Kejriwal, who took over the reins two days ago, is suffering from fever and cold and will not attend office on Monday. Kejriwal was scheduled to chair a meeting of Delhi Jal Board officials to discuss ways to provide free 700 litres of water per household as promised by him.
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The move is expected to delay the introduction of low-priced medicines in the market.
Siddaramaiah announces free LGP gas, universal health scheme in budget
In the past 18 months, the department of revenue intelligence has seized 50 containers of cigarettes, valued at nearly Rs 200 crore
Sources said while the Janata Dal-Secular will have nine new ministers, the Congress will have nearly 12 of its legislators inducted into the cabinet. Lone Bahujan Samaj Party MLA N Mahesh will also be a part of the cabinet expansion and will be given a key portfolio.
Sectors throw up a wishlist for the Finance Minister.
The government announced several incentives in the five-year Foreign Trade Policy.
The opposition parties vehemently criticised the new 'one nation, one tax' system having four different rates instead of a single rate adopted in some countries including the UK and Singapore.
FBT was an unpopular tax and withdrawn before the General Elections in 2009
A recent data released by the Central Statistics Office (CSO) confirm that both the manufacturing and mining sectors shrunk in 2013-14 with fall in output.
India's rank inched up by just one position to 130 in last year's Doing Business Survey by the World Bank.
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Firms are mandated to change prices of medicines within 45 days of NPPA's notification.
Chidambaram to meet revenue boards on how to get much more and quickly; special audits and notices among measures likely.
To help compare numbers better, FinMin might retain the interim Budget Estimates with the new ones.
Haryana Governor Kaptan Singh Solanki has sought response from Bhupinder Singh Hooda government on the Bharatiya Janata Party's demand for cancellation of recent controversial appointments by the chief minister.
Steep taxes on petrol and diesel add to the cost of economic activity and reduce the Indian economy's competitiveness. The two fuels must be brought under GST's purview, suggests former IAS officer Ajay Shankar.
Rain gods may be kinder; revenue collections going up: Jaitley
Fourteen ministers are from the Congress, nine from its ruling coalition partner Janata Dal-Secular and one each from the Bahujan Samaj Party and the Karnataka Pragnyavantha Janatha Party.
In a Q&A with Doordarshan, Jaitley discusses how he chose the areas on which he would spend more.
In July, IRS officers in Mumbai held an incendiary meeting where they criticised the alleged interference in 'operational matters' by the department of revenue.
The Madras High Court on Wednesday directed its registry to post a PIL seeking regulation of various clubs and questioning the dress code imposed by them in the backdrop of denial of entry to a dhoti-clad Judge by TNCA Club in Chennai to some other bench.
'When I was young, I used to look around the village we lived in.' 'There was a lack of resources -- no proper health centres and schools.' 'I felt that becoming an IAS officer would help solve those issues.'
Not declaring the black money under the scheme now, but showing it as income in the tax return form would lead to a total levy of 77.25 per cent in taxes and penalty. In case the disclosure is not made either using the scheme or in return, a further 10 per cent penalty on tax will be levied followed by prosecution.
The larger virtue of maintaining fiscal credibility should not be unduly diluted by quibbles on the fiscal math, says Sajjid Chinoy.
Rate sensitive sectors rallied the most led by banks while metals surged on rebound in commodity prices
Finance Minister Arun Jaitley witll spearhead the campaign with BJP President Amit Shah as its chief strategist.
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The power of a nation is directly related to the revenues it realises from its citizens. But India loses a gargantuan Rs 5.8 lakh crore, as the IT department drags its feet over recovering uncollected taxes in time or holding up files in appeal cases, says Mohan Guruswamy.
Noting that oil prices had gone down after the BJP-led government came to power in May 2014, before they went up, Prasad said it is a problem whose solution is not in its hands.
Dealers anticipated a sharp rise in jewellery demand this wedding season, but then came demonetisation.
The minister said any declaration made under the law will be protected
State after state has imposed an alcohol ban, and has had to retreat, unable to address the financial and administrative fallout. Are we set for more of this cycle, asks Aditi Phadnis.
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
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