Page 9 - Taxes
Bengal Budget FY 22: Govt grants road tax waiver, stamp duty rebate
The government has also proposed to reduce stamp duty by two per cent for registration of deeds, while circle rate was slashed by ten per cent.
 "Bengal Budget FY 22: Govt grants road tax waiver, stamp duty rebate")
India agrees to landmark global tax framework on taxing multinationals
India has agreed to a pathbreaking international framework with 129 other countries for taxing multinationals that could impact its ability to tax them
 "India agrees to landmark global tax framework on taxing multinationals")
GST has reduced rate at which people have to pay tax: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman on Wednesday said that the Goods and Services Tax (GST) has reduced the rate at which people have to pay tax and the GST rate at present is only 11.6 per cent
 "GST has reduced rate at which people have to pay tax: Nirmala Sitharaman")
Burden of taxation impeding household consumption, says Ind Ra
Meanwhile, the agency also said that the second wave is likely to impact rural loan collections in securitised pools of loans.
High level of taxation widens divergence in diesel inflation in WPI, CPI
Diesel retail prices are back to more than Rs 80 a litre in the national capital throughout this month and remain on an upward trajectory
 "High level of taxation widens divergence in diesel inflation in WPI, CPI")
Joe Biden sells economic plan in Georgia, calls for rich to pay more
Joe Biden took his pitch to Georgia for USD 4 trillion in spending to rebuild the nation's aged infrastructure and vastly expand the federal social safety net.
 "Joe Biden sells economic plan in Georgia, calls for rich to pay more")
Biden to announce $1.8-trn plan to expand US social safety net: What is it
The 10-year plan is aimed at ramping up federal support for American families, with a major expansion in spending on child care, paid leave and education.
 "Biden to announce $1.8-trn plan to expand US social safety net: What is it")
Government allows further operational flexibility to GST filers
The government has allowed further flexibility to tax filers operating under the Quarterly Return Filing and Monthly Payment of Taxes scheme
 "Government allows further operational flexibility to GST filers")
Changes in tax norms on slump sale deals may lead to litigation for firms
Changes will impact several M&A transactions, including internal restructuring by companies which were signed since April 2020.
 "Changes in tax norms on slump sale deals may lead to litigation for firms")
Tolerating an act for a consideration is a taxable service: Expert
Our account with the Customs was flagged as "risky exporter" and our claim for refund of IGST paid on export goods was blocked
 "Tolerating an act for a consideration is a taxable service: Expert")
Companies grapple with transfer pricing woes as tax deadline draws near
Previous approaches fall short amid Covid-19 volatility in numbers
 "Companies grapple with transfer pricing woes as tax deadline draws near")
Budget is a bold gambit with focus on growth without any increase in taxes
With the economy likely to grow at a nominal growth of between 15-16 per cent, the tax revenue increase of 16.7 per cent appears fairly achievable
 "Budget is a bold gambit with focus on growth without any increase in taxes")
Budget for the victims: Some silent crises for Ms Sitharaman to address
A consumption boost through continued pay-outs for another year to those at the bottom of the pyramid, and still more money for the employee guarantee scheme should be in order, writes T N Ninan
Google tax collections remain muted in Q1, mop-up drops 30% to Rs 216 cr
The yield declined 30 per cent after the first instalment deadline ended on Tuesday, compared to the same period last year, revealed preliminary collection figures
 "Google tax collections remain muted in Q1, mop-up drops 30% to Rs 216 cr")
FinMin sanctions Rs 92,077 cr to states as devolution of central taxes
The Budget had projected the share of the states in taxes at Rs 7.84 trilllion for 2020-21.
 "FinMin sanctions Rs 92,077 cr to states as devolution of central taxes")
Statsguru: Temporary act in the 15th Finance Commission's report
States such as Bihar, Maharashtra, and erstwhile state of Jammu & Kashmir stand to gain, compared with the current year's share, while Karnataka, Telangana, and Kerala stand to lose
 "Statsguru: Temporary act in the 15th Finance Commission's report")
Ease of doing business: How India moved up the ranks and the road ahead
Economic survey 2019-20: The new blueprint
 "Ease of doing business: How India moved up the ranks and the road ahead")
Simplifying tax on capital
A clear timeline needed for transition to a transparent regime
 "Simplifying tax on capital")
Redefining law on exemptions
The Customs department so made the software in its Electronic Data Intercharge system that when exemption from BCD was claimed by presenting such scrip, the system automatically allowed it by a debit
 "Redefining law on exemptions")
US needs to raise taxes to fight poverty: Nobel Laureate Abhijit Banerjee
"If you actually want to deal with poverty, happiness and anger in the US, the government will need to have more resources," Banerjee said in an interview in Stockholm on Saturday
 "US needs to raise taxes to fight poverty: Nobel Laureate Abhijit Banerjee")
