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Tuesday, February 25, 2025

Finance

₹ 92,849 crore gross GST revenue collected in June’ 2021

The gross GST revenue collected in the month of June’ 2021 is ₹92,849 crore of which CGST is ₹16,424 crore, SGST is ₹20,397, IGST is ₹49,079 crore (including ₹25,762 crore collected on import of goods) and Cess is ₹6,949 crore (including ₹809 crore collected on import of goods).The above figure includes...

CBIC to issue certificates of appreciation to honour contributions of tax payers

On the eve of completion of 4 years of the GST, CBIC to honour the tax payers contributing to the GST success story Government reaffirms its commitment to continuous improvement in taxpayer services GST is a historic tax reform introduced on...

Nirmala Sitharaman announces relief package of Rs 6,28,993 crore to support Indian economy in fight against COVID-19 pandemic

Rs 1.1 lakh crore loan guarantee scheme for COVID affected sectors • Additional Rs 1.5 lakh crore for Emergency Credit Line Guarantee Scheme • Credit Guarantee Scheme to facilitate loans to 25 lakh persons through Micro Finance Institutions (MFIs) • Financial support...

Ravi Shankar Prasad launches ‘itat e-dwar’, an e-filing portal of Income Tax Appellate Tribunal

Portal will enable online filing of Appeals, Applications, documents etc. by various parties Cases of  Income Tax Appellate Tribunal should be integrated in National Judicial Data Grid: Shri Ravi Shankar Prasad Shri Ravi Shankar Prasad, Union Minister for Law & Justice,...

Clarification for use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961

Finance Act, 2021 inserted two new sections 206AB and 206CCA in the Income-tax Act 1961 which takes effect from 1st day of July, 2021. These sections mandate tax deduction or tax collection at higher rate in case of certain non-filers...

Bhutan’s Tax Inspectors Without Borders (TIWB) programme launched in partnership with India

Tax Inspectors Without Borders (TIWB), a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), launched its programme in Bhutan today. India was chosen as the Partner Jurisdiction and has...

Finance Ministry interaction with tax professionals, other stakeholders and Infosys on issues in new Income Tax Portal

A meeting was held between senior officials of the Finance Ministry and Infosys on 22.06.2021 on issues in the new Income Tax Portal. The meeting was presided over by Union Minister for Finance & Corporate Affairs Minister Smt. Nirmala...

Recommendations of 44th GST Council Meeting

Change in GST Rates on goods being used in Covid-19 relief and management The 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today. The Council in its meeting...

New, Taxpayer-friendly e-filing Portal of the Income Tax Department To Be Launched on 7th June, 2021

Several New Features Introduced Free of Cost ITR Preparation Interactive Software Also Available New Call Centre For Taxpayer Assistance The Income Tax Department is launching its new e-filing portal www.incometax.gov.in on 7th June, 2021. The new e-filing portal is aimed at providing...

₹ 1,02,709 crore gross GST revenue collected in May

The gross GST revenue collected in the month of May 2021 is₹1,02,709 crore of which CGST is ₹17,592 crore, SGST is ₹22,653, IGST is ₹53,199 crore (including ₹26,002 crore collected on import of goods) and Cess is ₹ 9,265 crore (including ₹868 crore collected on import of goods). The above...

Latest News

RBI Plans to Scrap Foreclosure Fees for MSMEs, Borrowers

The Reserve Bank of India (RBI) has proposed a significant policy shift that would eliminate foreclosure charges on floating-rate...