As many as 12,394 complaints of alleged corruption were received against railway employees.
The rise in material prices and excise duty is set to raise the prices of liquor brands across the country. According to officials of various companies, the brands will be costlier by 15-20 per cent from April.
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The government has also raised the duty on gold ore/ concentrates/dore bars and silver dore bars ranging from 7 per cent to 10 per cent.
'We had just kept their recognition in abeyance, pending a verification with regards to new AITA President'
Real estate major DLF has come under the scanner of central revenue officials for allegedly evading service tax to the tune of about Rs 30 crore.
Finance Minister Arun Jaitley's decision to cut arbitrage may ensure that the standards of purity of the refined gold in the Indian market meet the global benchmark
The earlier attempt at its auction had received a bid of Rs 1.09 crore as against the then reserve price of Rs 152 crore
The much awaited new indirect tax regime Goods and Service Tax (GST) is unlikely to be implemented from the scheduled date of April 1, 2011, a top government official said on Tuesday.
Soft drinks are a part of the larger consumer non-durables category, which rose five per cent in June, against a 0.5 per cent fall a year earlier, showed official data released on Monday.
The film has been reportedly passed with a U certificate by Nihlani.
On behalf of Manorama Devi, advocate Qaiser Sarfuddin filed the bail petition in the court of (in-charge) District Judge S N Singh who posted the matter for hearing on Monday.
A bill providing for up to capital punishment to those manufacturing or trading illicit liquor in the event of hooch tragedy was on Wednesday unanimously passed by both Bihar legislature which also adopted a resolution unanimously that its members will not consume liquor.
The ministry of urban development has asked the finance ministry to lower the duty in order to promote the public transportation system in the country.
The GST rate for the sector has not yet been finalised by the government.
Departments of electronics, excise, I-T launch probe into Rs 251 smartphones
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
The Department of Revenue Intelligence, Customs and Central Excise have intercepted a container at Cochin, which had arrived from Dubai, suspecting that it is carrying counterfeit currency notes. The owner of the consignment had told the Customs officials that the container had children's diapers and it was brought from China after conducting all clearances, informed sources.
Electronic filing of service tax will be made compulsory in the next two months," CBEC member Y G Parande told reporters on the sidelines of a PHD chamber seminar.
The revenue from customs, excise and service tax, which make up the indirect taxes, during the April-June quarter of 2010-11 fiscal stood at Rs 56,930.15 crore (Rs 569.3 billion), up from Rs 39,693.78 crore (Rs 396.93 billion) in the year-ago period, a finance ministry official told PTI.
The Central Board of Excise and Customs (CBEC) has recommended amending the rules to widen the scope of levying service tax on the entertainment business.
The government raised import tariff value on gold to $385 per 10 grams.
The Central Board of Excise and Customs (CBEC) has recommended an overhaul of the Special Economic Zone (SEZ) Act 2005 saying it has detected gross violations of duty and tax concessions causing it to suffer a revenue loss of Rs 1,75,000 crore to date.
Announcing the cabinet decision, Union minister Prakash Javadekar also said the President, the Vice President, Governors of states have also voluntarily decided to take a pay cut as a social responsibility.
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
The revenue collection in the same month a year ago stood at Rs 94,442 crore.
Going forward, the February factory output may be impacted as several industries such as automobiles, technology, pharma and fashion have some exposure to imports of raw and intermediate materials from China.
Telangana Chief Minister K Chandrasekhar Rao on Monday appointed 2 deputy CMs besides allocating portfolios.
Sources had said in a meeting last month, the empowered group of ministers on food, headed by finance Minister Pranab Mukherjee, had recommended that the import duty on rice be scrapped.
According to official sources, the government is likely to announce a major fiscal stimulus package for housing, auto and export sectors on Saturday. The government might also cut cut excise duty on commercial vehicles, and further relax the external commercial borrowing norms. This will help exporters and others.
Will the state forgo its lucrative excise collections in a bid to curb sales of liquor in the festive season, asks Mahesh Vijapurkar.
"Eighteen large tax payers have already given their consent to join the unit, which will be inaugurated by Finance Minister P Chidambaram on Friday," an income tax official said in Mumbai on Monday. Rashtriya Chemical Fertiliser, Bajaj Auto Ltd, Bayer (India) Ltd, Cipla Ltd, Lupin Pharmaceuticals, Bank of India and Union Bank of India are some of the major companies which have decided to come under LTU, the official said.
Across 10 prominent services, revenue to the government reduced by 20 per cent in the first year of GST compared to the last year of the service tax regime. This happened despite tax liability against these services growing by 50 per cent in one year.
The government on Friday slashed the import tariff value on gold to $398 per ten grams while raising it marginally on silver to $643 per kg in line with global trends.
The reason for the largesse, a first in the revenue department, is on account of direct and indirect tax collections exceeding the target (Budget estimate) for 2006-07. Total revenue collections stood at Rs 470,987 crore (Rs 4,709.87 billion) for the year, against the targeted Rs 439,952 crore (Rs 4399.52 billion).
A 'green' tax aimed at discouraging high consumption of petroleum products may be in the offing, a government official said on Wednesday. The tax, perhaps in the form of a cess on consumption, would also check vehicular pollution to some extent and also help in controlling the high oil subsidy burden.With no sign of moderation in demand for petroleum products, government officials feel that a 'green' tax should be levied on automobiles, on the lines of similar taxes in UK.
Indirect tax collections saw only a meagre 3.5 per cent growth, as mop-up from Customs fell sharply on account of a drop in imports.
DIAL is a joint venture consortium of GMR Group, Airports Authority of India, Fraport and Malaysia Airports Holdings Berhad.
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
Simplifying the processes will lead to greater efficiencies. Bad processes will not help even if implemented well, says T N C Rajagopalan
