All the details from the meetings of the Committee of Administrators (CoA) held on July 6 and on June 29
Central Board of Indirect Taxes and Customs said despite the electronic way or E-way bill mechanism there has been rampant evasion and there is a need to increase compliance.
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
Record sugar output has also yielded molasses production way beyond market demand and plant capacity of state distilleries and country made liquor units
Sunanda K Datta-Ray considers them sound in theory, but incapable of making any dent in the corruption that is India's way of life.
Former chief minister Tarun Gogoi demanded a CBI inquiry into the episode
Modi said officers must fix clear targets to improve the country's tax administration by 2022, the 75th anniversary of Independence.
A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business.
CBEC alleges that the company imported semi-knocked down cars but paid duty for completely-knocked down car units.
The government has slapped a notice of Rs 5 crore demand on trusts run by Ramdev in connection with alleged service tax evasion while organising their yoga camps.
Tariff value is the base price on which the customs duty is determined to prevent under -- invoicing.
The CJI said tax judiciary plays a very important role in resource mobilisation of the country and expressed concern over pendency of cases.
Tata Motors on Monday reported consolidated revenue (net of excise) at Rs 7,702.66 crore (Rs 77.02 billion), an increase of 42 per cent as against Rs 5,428.88 crore (Rs 54.28 billion) in Q2 FY06.
Total collection of indirect taxes -- excise, customs and service tax -- stood at about Rs 3,55,003 crore (Rs 3,550.03 billion) during the first nine months of 2013-14 as against Rs 3,34,309 crore (Rs 3,343.09 billion) in the year-ago period, sources in the Finance Ministry said.
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
Tobacco major ITC is weighing legal options in the wake of Centre's move to demand Rs 450 crore (Rs 4.5 billion) from it in connection with excise evasion after arming itself through an ordinance with power to modify past excise rules.
Introduced in 2015 under the Foreign Trade Policy, the mega MEIS was created out of a merger of five existing reward schemes.
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.
Its officers would wear black bands on Monday, which is also Martyrs day, the IRS Association (Customs and Central Excise) has said.
IOC along with HPCL and BPCL took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.
Nearly a dozen ruling Bharatiya Janata Party MLAs in Karnataka on Saturday appealed to the Lokayukta court to take suo motto cognisance of H D Deve Gowda and his two sons for allegedly threatening police officials inquiring into a case against the former prime minister's eldest son H D Balakrishne Gowda.
The government on Friday slashed import tariff value of gold to $507 per 10 grams and of silver to $871 a kg following fall in global prices of the precious metals.
Senior policymakers say it is a tough task and the finance ministry may resort to the time-tested method of carrying forward part of the subsidy payment burden to the next fiscal year.
The Finance Ministry has told industry it should not expect any major fiscal sops in the Budget to be presented by the new UPA government, which has a limited headroom for giveaways due to the economic slowdown.
GST is levied on every transaction in the supply of goods and services, barring certain exempted items
One of the key issues will be tax exemption sought by the ICC for the future global events in India like the 2021 Champions Trophy and the 2023 World Cup.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
The diamond studded crown of India's Srishti Rana, who has been crowned Miss Asia Pacific World 2013 in Busan, South Korea, was seized for not paying customs, a senior customs official said.
Airports have been asked to ensure that information relating to the use of Indian currency should be displayed at all the duty-free shops.
Imports are down also because local traders are clearing unaccounted stock after introduction of 1 per cent excise duty
It is likely the government will divide the country into different zones during the proposed extended period of lockdown and might permit a few services to function in safe zones.
Government gets Rs 17.1 lakh crore in its kitty
Authorities in the Pakistani capital have decided not to issue vehicle registration numbers US-911, UK-911 and UK-77 due to their perceived links to the 9/11 terror attacks in the United States and the 7/7 London bombings.
Finance ministry officials said the issue had been raised several times before, but this time it was serious in the wake of huge differential between the two fuel options.
Steps such as safeguard duty in the works to plug the route
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
The road ministry has put forward two proposals before the Prime Minister's Office and the finance ministry.
As many as 12,394 complaints of alleged corruption were received against railway employees.
