Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
Oil and gas exploration policy will be reviewed to move from profit sharing to revenue sharing contracts.
In a furious post on his blog, senior Bharatiya Janata Party leader Arun Jaitley on Tuesday slammed the Congress for allegedly using the Excise Department to impose a tax on the mammoth rallies addressed by the saffron party's prime ministerial candidate Narendra Modi.
Wants to end hostile relationship between I-T dept and taxpayers.
Analysts suggest making separate firms of tobacco, hotels and FMCG divisions
A 14-member council of ministers was sworn in Patna by Governor Phagu Chauhan on Monday and the BJP bagged seven berths.
Common items between Centre and states - bread, eggs, milk, vegetables, cereals, books and salt - will continue to be exempted.
Finance Minister P Chidambaram is banking on the aspirations of people to own a swanky new mobile phone to boost the government's indirect tax revenue in the next financial year.
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.
Government has set indirect tax collection target of Rs 5.65 lakh crore for 2013-14
The Central Excise and Service Tax Appellate Tribunal ordered the BCCI pay Rs three crore interim payment towards service tax dues.
The government Rs 20 lakh crore package includes Rs 1.7 lakh crore of fiscal stimulus announced in the first phase, Rs 5.6 lakh crore stimulus provided through various monetary policy measures and Rs 5.94 lakh crore through the second phase, implying Rs 6.70 lakh crore package is still to be announced.
Thackeray also said that while taking the decision, excise rules have not been touched and pubs and bars will close as usual at 1.30am.
Total disputed liability of Mallya with respect to service tax to the tune of Rs 535 cr
Companies are ranked by total revenues.
P Gopakumar, Asst Commissioner of Customs & Central Excise, Indian Revenue Service, Bangalore suggests some useful strategies to crack Civil services mains.
On a standalone basis which represents its domestic operations, the revenues dipped to Rs 12,481 crore as compared to the last year's Rs 12,954 crore.
A foreign national has been arrested by Pakistani security agencies in connection with the car bomb blast outside the house of the 2008 Mumbai terror attack mastermind and chief of the banned Jamat-ud-Dawa (JuD) Hafiz Saeed in Lahore, according to media reports.
Concerned over huge revenues in form of customs, services and excise duties locked up in litigations, Finance Minister Pranab Mukherjee has constituted a committee to suggest steps to bring down such cases.
All goods and services have been put in slabs of 5%, 12%, 18% and 28%
In an online chat with readers on September 23, expert P Gopakumar, Asst Commissioner of Customs & Central Excise, Indian Revenue Service, Bangalore addressed reader queries related to cracking the Civil services exam 2011. For those who missed the live chat, here's the unedited transcript.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
Under the GST regime, most manufactured goods will turn cheaper.
A road map could be laid out for a gradual reduction in the tax rates from the current incidence of about 62-94 per cent without causing a major blow to the revenues of the Centre and the states. The opportunity arising out of higher GST collections should not be squandered, says A K Bhattacharya.
The chief minister, who had on Wednesday expanded his new cabinet by inducting 29 ministers, had played it safe by and large retaining old faces, as 23 of them were Ministers in the previous Yediyurappa cabinet, while six were new.
A future road map could be to work towards a single standard rate instead of two standard rates of 12 per cent and 18 per cent, he said.
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.
IOC urged the government to cut excise duty by Rs 8 (the current revenue loss) to Rs 6.78 per litre. It also demanded a cut in state-level taxes.
The government has also hiked excise duty by 11 percent, which is in addition to the 6 per cent that was announced in the budget, he said.
Vagela could not have reached this position if Narendra Modi, who'd known him from his chief minister days, had not backed the choice.
Rediff Labs analyses the relationship between alcohol and revenue generated and reported drunken driving accidents.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
The government's plan to mop-up additional revenue from indirect tax may not materialise
At a time of falling GDP growth, the case for boosting revenue by increasing the tax rates is weak.
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.
An inquiry has been initiated by Directorate General of Central Excise Intelligence officials against these airlines.
Finance Ministry, Assocham on Tuesday sought a taxation friendly environment for the startups
'While collections under the Income Disclosure Scheme explain it partly, indirect tax numbers not showing any effect of the withdrawal of high denomination currency notes was puzzling.'
The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
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