GST Council reduces tax rate on under-construction residential properties

Finance Minister Arun Jaitley said a decision on revising tax rates on lotteries will be taken at another council meeting.

Scroll Staff

· Feb 24, 2019 · 06:14 pm

Tax on angel investments haunts a majority of India’s startups, finds survey

India’s income tax department sent out a fresh clutch of angel tax notices in December 2018, which included penalties for late payment.

Kuwar Singh, qz.com

· Feb 06, 2019 · 11:30 pm

Centre says new I-T filing system is being developed, will cut processing time of returns to one day

Union minister Piyush Goyal said the project will take 18 months to complete, and it will be launched after three months of testing.

Scroll Staff

· Jan 16, 2019 · 11:18 pm

America is discussing raising taxes for the rich. Should India consider this too?

India’s direct tax collections and tax to GDP ratio are significantly lower than those of other large economies.

Shoaib Daniyal

· Jan 12, 2019 · 08:00 am

GST slabs: Over 99% items will be taxed 18% or lower, Centre working towards it, says Modi

Only some luxury items, such as aeroplanes and expensive cars, will be taxed higher, the prime minister said at an event.

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· Dec 18, 2018 · 01:18 pm

Number of individual taxpayers with annual income above Rs 1 crore rose 68% in last four years

The average income declared by salaried and non-salaried taxpayers also increased over the past three years, the Central Board of Direct Taxes said.

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· Oct 22, 2018 · 03:35 pm

No provision for GST refunds for foreigners as of now, says finance ministry in RTI reply: PTI

The Centre is yet to enforce Section 15 of Integrated Goods and Services Tax Act, which enables foreigners to claim refunds on goods they buy and take home.

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· Aug 06, 2018 · 04:21 pm

Petroleum may be brought under GST after revenue stabilises, says Bihar Deputy CM Sushil Modi

He cautioned that this may not lead to a reduction in prices of petroleum products as states would be allowed to levy taxes over and above GST.

Scroll Staff

· Aug 03, 2018 · 04:38 pm

GST collections rose marginally to Rs 96,483 crore in July

The government attributed the increase in the mop-up to the e-waybills that helped improve compliance.

Scroll Staff

· Aug 01, 2018 · 07:36 pm

Is GST exemption for sanitary napkins a victory or will it allow Chinese pads to dominate?

Arun Jaitley argued last year that if the GST rate for sanitary napkins was lowered to 0%, ‘there would be no Indian manufacturer left’.

Rohan Venkataramakrishnan

· Jul 23, 2018 · 06:30 am

GST Council exempts sanitary napkins from taxation, removes a number of items from 28% tax slab

Many items such as marble, rakhi, wooden deities and sal leaves also will not be taxed, Interim Finance Minister Piyush Goyal said.

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· Jul 21, 2018 · 06:31 pm

Centre increases threshold for tax ligitation in tribunals, courts; 29,580 cases could be withdrawn

The move will also reduce the amount locked up in such litigation by Rs 5,600 crore, the government said.

Scroll Staff

· Jul 12, 2018 · 06:19 pm