The government allowed sugar companies and distilleries to make hand sanitizers using ethanol. Sugar companies supply ethanol to oil marketing companies for blending with petrol.
Liquor shops reopened across the country in the non-containment zones after 40 days from Monday with people queuing up in large numbers, giving social distancing norms a toss at some places.
These builders had collected the taxes from prospective buyers but had failed to deposit them.
Amid speculations of partial roll back of stimulus in the upcoming Budget, a key finance ministry official said the government's kitty from indirect tax collections will fall short of the projected figures for this fiscal.
Vagela could not have reached this position if Narendra Modi, who'd known him from his chief minister days, had not backed the choice.
India's fuel demand in May slumped to its lowest in nine months as restrictions to curb the second wave of COVID infections stalled mobility and muted economic activity. Fuel demand fell 1.5 per cent to 15.1 million tonnes despite the low base of May 2020 and was down 11.3 per cent when compared to the previous month, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. India was under one of the world's strictest lockdowns in May last year, which brought all mobility and economic activity to a grinding halt.
India's tax pie seems to have undergone a subtle change with a sharp drop in direct tax collections resulting from a disproportionate impact of the COVID-19 carnage on incomes. The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020. In an interview with PTI, finance secretary Ajay Bhushan Pandey said in a pandemic like this where the economy has been impacted, any large scale changes impact direct taxes more severely, whereas indirect tax collection is mostly proportional to business turnover and compliance.
A large number of labourers of two tea estates of Golaghat and Jorhat districts had fallen ill after drinking spurious liquor on Thursday night.
The victims, labourers of Salmira tea estate, fell ill after they drank the illicit brew on Thursday night, the police said.
The toll due to consumption of spurious liquor in the Malad area of Mumbai climbed to 94 with the death of four more persons on Sunday.
Prohibition is resulting in prisons getting overcrowded.
Says along with setting up the industry if value addition is done locally, it can create more direct and indirect employment.
On April 5, 2016, the Nitish Kumar-led government imposed total prohibition in Bihar. M I Khan crunches numbers for the REAL picture since then.
Tax exemption for future global cricket events in India has once again become a bone of contention between the BCCI and ICC as the former gears up to host the 2021 T20 World Cup and the ODI World Cup in 2023. The ICC and BCCI have had a long standing feud on tax exemptions since the 2016 World T20 in India.
The much-awaited Karnataka Cabinet expansion would take place on Wednesday with the induction of 7-8 ministers, Chief Minister B S Yediyurappa said on Tuesday.
CM Trivendra Singh Rawat cancels licences of the two government-controlled liquor shops in his constituency. The state government is facing an uphill task in opening new shops in face of widespread agitation by women.
The Directorate of Revenue Intelligence, the lead agency to check customs frauds and smuggling, has decided to post officers at India's Mission in New York (US), Singapore, Brussels (Belgium) and in Nepal's Birgunj.
The EC has asked all departments to deploy round-the-clock flying squads, quick-response teams, and high-tech machinery to check money inflow. They are also to examine vehicles passing though check-posts, reports Shrimi Choudhary.
The list of exempted goods from central excise duty has shrunk from 400 items in 2011-12 to 300 now.
High-pitched identity politics, which is the norm in the northeast, has continued to compound the boundary problem.
Tax sleuths unearthed central excise and service tax evasion amounting to over Rs 5,500 crore (Rs 55 billion) in the 2010-11 financial year, even as pressure mounted on the government to crack down on black money.
4 luxury SUVs and documents indicating 'benami' assets of Rs 300 crore have been recovered during income tax raids.
The petroleum ministry's call for an immediate Re 1 cut in excise duty on diesel has been rejected by Finance Minister P Chidambaram.
'It is just an excuse to say that the Centre has run out of money.' 'Pruning these schemes would mean hard time for the people of India.'
The condition of over two dozen people admitted in various hospitals in Etah and Saifai, after they consumed the spurious liquor, was stated to be critical.
State home minister said violation of rules has been noticed in the construction of the building.
If the new regime is introduced in 2017, the govt may lose out on cess, surcharge
The company was paying huge sums of money to their channel partners under different heads in lieu of commission.
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.
Wants to end hostile relationship between I-T dept and taxpayers.
While the two-phased assembly polls voting has concluded in Assam, in West Bengal two phases have completed while four more remain.
Janata Dal-United MLC Manorama Devi faced an arrest warrant on Wednesday for violating prohibition laws and allegedly harbouring her fugitive son.
In the 2012-13, car sales in India fell 6.69 per cent, which was the first decline in a decade.
The GST will be a national sales tax that will be levied on consumption of goods or use of services
'Sin tax' is a globally prevalent practice under which products like alcohol and tobacco attract higher rates of tax.
To snatch a state government out of Congress hands is therefore a high-stakes game with national political implications, for it denies the party the essential fuel to run effective election campaigns, notes T N Ninan.
Indirect tax revenues rose marginally by 5.6 per cent in the April-October period to over Rs 2.85 lakh crore, mainly on account of increase in service tax and customs collections.
The financial fraud, one of the biggest in the state as per records, was being investigated by the different departments of Himachal Pradesh for the past over four years.
The Directorate General of Central Excise Intelligence has initiated a probe following complaints of the service tax evasion by various insurance providers.
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