Page 11 - Shrimi Choudhary

India's Goods and Services Tax mop-up crossed Rs 18 trillion in FY23

March collection was the second-highest ever

Revenue boost: FY23 net direct tax collection exceeds Revised Estimate

Mop-up could help govt meet its fiscal deficit target

GST mop up at all-time high of Rs 18 trillion in FY23, shows data

The data shows collections in the pandemic year FY21 declined, but bounced back in subsequent years, indicating resilience in the economy amid external headwinds

FinMin notifies GST amnesty scheme for non-filers, small businesses

Enterprises can apply for revocation of cancelled GST registration by June 30 after paying due taxes, interest and penalty

Govt may close FY23 with Rs 50,000 cr shortfall in direct tax mop up

The dividend from public sector enterprises gave some breather: It stood at Rs 58,988 crore, compared to the revised target of Rs 43,000 crore

Govt eyes IDBI financial bids by June, stake sale completion in FY24 itself

Govt has made several provisions and brought regulatory clarity to make deal attractive for bidders. These include allowing a consortium of foreign entities to own over 51% in the Bank

GST rate rationalisation unlikely before 2024 Lok Sabha elections

Centre, states not in favour any major change in GST structure amid inflationary pressure

Finance Bill 2023: Govt to scrap LTCG tax benefits on debt mutual funds

Lok Sabha passes Finance Bill with 64 amendments

Govt evaluating measures to bring down tax burden on PE/VCs in India

It is expected to be introduced in Parliament's monsoon session

CBDT asks Mumbai, West Bengal to step up efforts to raise revenue

The net tax growth rate in some of these regions was below expectations, said two people privy to the development

Direct tax collection hits 95.2% of Revised Estimates for FY23

Net collection rises 15.3% to Rs 15.72 trn as of March 16

Panel working on classification of millet products to determine GST rates

The panel will likely propose the classification at the next GST Council meeting, which is expected to be held at the end of May or in June

Only 3% PMLA cases have been against politicians: Enforcement Directorate

Probe agency registered 5,906 cases under the criminal from 2005 till Jan 2023, its data shows

I-T department selects 68,000 'high-value' cases for e-verification

The transactions were allegedly not reported correctly in tax returns for FY20

Adani-Hindenburg saga: Over dozen involved in short-selling under Sebi lens

Fund source, disclosures being examined

Angel tax relief likely for Sebi-enrolled FPIs; rules expected by April 15

The angel tax is on the amount received as more than fair market value as income in the hands of a company

Politically exposed persons, NPOs face tighter PMLA regulations

Reporting cap for beneficial owners lowered to 10%

Fitment panel to examine compensation cess structure for pan masala

To review the feasibility of MRP-linked compensation cess rates

Direct tax collection in FY23 likely to top govt's Revised Estimates

Until Feb, net direct tax collection stood at Rs 13 trillion

Feb GST collection up 12% YoY to Rs 1.49 trn, dips month-on-month

With this, the monthly GST revenues remained over Rs 1.4 trillion for 12 straight months