The finance ministry on Sunday said that the net direct tax collections grew 30% to Rs 8 lakh crore till September 17 of current fiscal year on increased advance tax mop-up. “The Gross collection of Direct Taxes (before adjusting for refunds) for the FY 2022-23 stands at Rs. 8,36,225 crore compared to Rs. 6,42,287 crore …
Rajeev Chandrasekhar, Member of Parliament The Finance Minister’s announcements of Rs 20 lakh crore package is complicated and voluble. Rajeev Chandrashekhar, the former owner of BPL Telecom, MP and also seasoned investor explains this package from a government and industry perspective to ETCFO. He tells us how much can the government do to improve demand, …
NEW DELHI: A company with Rs 100-crore credit in lieu of taxes paid in the past regime, risks losing it now under the goods and services tax (GST) reign simply because of the ‘fat finger,’ as it is popularly called. With the August 28 (Monday) deadline looming for filing returns and ensuring GST compliance, corporates …
Can companies lose credit over GST filing errors?, CFO News, ETCFO Read More »
Saurabh Gupta, CFO, Dixon Technologies The government should not tinker with tax rates, given their budgetary constraints, and more disposable income should be given in the hands of consumers to increase spending, said Saurabh Gupta, CFO of Dixon Technologies. Focus should be on infrastructure, jobs creation and policies for ‘Make in India’ and foreign trade …
The Central government is estimated to have lost as much as Rs 58,521 crore in taxes in 2019-20 due to illicit trade in goods in 5 key industries. A Ficci report, titled ‘Illicit Markets: A Threat to Our National Interests’ by FICCI’s Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE), has identified FMCG, …
RBI Governor, Shaktikanta Das today announced a reduction in policy rates by 40 basis points and extended the moratorium by three months to contain the economic fallout from the coronavirus pandemic. The measures however, did not include any restructuring opportunity for banks. Source link
NEW DELHI: The government has extended the date for filing goods and services tax (GST) for those providing online information and database access or retrieval services from outside India to a non-taxable online entity. They can now file their July return (GSTR5A) by September 15, according to notification by the central government. This covers central …
Publish Date : Monday, January 16, 2023 Source link
There is a huge corpus of work emphasizing the importance of formalization and the persistence of informality in the economy. Representing a major feature of labour markets worldwide, the informal sector consists of activities operating outside the regulatory framework that would potentially add value to tax revenue and the GDP but go unaccounted. A recent …
Gradual shift from informal to formal for MSMEs, CFO News, ETCFO Read More »
The panel of state ministers set up by the GST Council to look into taxation of online gaming and casinos on Thursday submitted its report to Finance Minister Nirmala Sitharaman. The GST Council, chaired by Sitharaman, may take up the report in its next meeting on Saturday (December 17). “Presented the Second Report of the …
GoM on online gaming, casinos submits report to Sitharaman, CFO News, ETCFO Read More »
