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CBIC rolls out automated scrutiny module for GST returns The Central Board of Indirect Taxes (CBIC) has, from this week, rolled out the automated return scrutiny module for GST returns, which will enable tax officers to carry out scrutiny of GST returns of Centrally-administered taxpayers selected on the basis of data analytics and risks identified by the system. In the module, discrepancies on account of risks associated with a return are displayed to the tax officers, who are provided with a workflow for interacting with the taxpayers through ...
CBIC rolls out automated scrutiny module for GST returns
CBIC rolls out automated scrutiny module for GST returns
Source: IANS
12/05/2023 9:46:09 AM
Net direct tax collections rose 160% to Rs 16.6 lakh crore in 2022-23 Net direct tax collections have risen by a huge 160 per cent to Rs 16,61,428 crore in 2022-23 from Rs 6,38,596 crore in 2013-14, according to time series data released by the Finance Ministry on Thursday. As per the data, gross direct tax collections also witnessed a massive 173 per cent rise to Rs 19,68,780 crore in 2022-23 from Rs 7,21,604 crore in 2013-14. Direct tax buoyancy, at 2.52 in 2021-22, was the highest ever recorded over the last 15 years, official sources said, adding that...
Net direct tax collections rose 160% to Rs 16.6 lakh crore in 2022-23
Net direct tax collections rose 160% to Rs 16.6 lakh crore in 2022-23
Source: IANS
14/04/2023 8:47:59 AM
Gross direct tax collections for 2022-23 rise 20% to Rs 19.68L cr Gross direct tax collections (provisional) for 2022-23 stand at Rs 19.68 lakh crore, registering a growth of 20.33 per cent, according to figures released by the Finance Ministry on Monday. Direct tax collections (provisional) for 2022-23 have exceeded the revised estimates by 0.69 per cent. The budget estimates (BE) for direct tax revenue in the Union Budget for 2022-23 were fixed at Rs 14.20 lakh crore, which were revised to Rs 16.50 lakh crore. The provisional direct tax collections ...
Gross direct tax collections for 2022-23 rise 20% to Rs 19.68L cr
Gross direct tax collections for 2022-23 rise 20% to Rs 19.68L cr
Source: IANS
4/04/2023 9:10:24 AM
India's direct tax growth momentum may be tough to sustain in FY24- Government source  The Indian government may find it difficult to maintain its current growth momentum in direct taxes in the next fiscal year as economic growth is expected to slow, a government official said on Friday. Finance Minister Nirmala Sitharaman will present the Union Budget on Feb. 1, which will include projections for next year's tax collection. Net direct tax collection was currently growing at 19.5% year on year, totaling 12.31 trillion rupees ($151.70 billion) in A...
India's direct tax growth momentum may be tough to sustain in FY24- Government source
India's direct tax growth momentum may be tough to sustain in FY24- Government source
Source: IANS
20/01/2023 2:03:44 PM
IndusInd Bank rises on getting authority by RBI to collect Direct and Indirect Taxes IndusInd Bank is currently trading at Rs. 1183.00, up by 0.65 points or 0.05% from its previous closing of Rs. 1182.35 on the BSE. The scrip opened at Rs. 1188.50 and has touched a high and low of Rs. 1192.00 and Rs. 1175.30 respectively. So far 47082 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1195.95 on 12-Oct-2021 and a 52 week low of Rs. 571.10 on 29-Oct-2020. Last one week high and low of the scrip sto...
IndusInd Bank rises on getting authority by RBI to collect Direct and Indirect Taxes
IndusInd Bank rises on getting authority by RBI to collect Direct and Indirect Taxes
Source: Accord Fintech
13/10/2021 2:03:31 PM
Kotak Mahindra Bank jumps on receiving approval for collection of direct and indirect taxes Kotak Mahindra Bank is currently trading at Rs. 1987.60, up by 4.95 points or 0.25% from its previous closing of Rs. 1982.65 on the BSE. The scrip opened at Rs. 1982.65 and has touched a high and low of Rs. 1992.65 and Rs. 1958.75 respectively. So far 20786 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2077.90 on 28-Sep-2021 and a 52 week low of Rs. 1301.25 on 15-Oct-2020. Last one week high and low of the scr...
Kotak Mahindra Bank jumps on receiving approval for collection of direct and indirect taxes
Kotak Mahindra Bank jumps on receiving approval for collection of direct and indirect taxes
Source: Accord Fintech
6/10/2021 12:09:36 PM
Kotak Mahindra Bank gets nod to collect direct, indirect taxes Kotak Mahindra Bank Ltd (KMBL) has received approval from the government for collection of direct and indirect taxes, such as income tax, Goods and Services Tax (GST) etc, through its banking network. With this, the bank becomes the first scheduled private sector bank to receive approval after the announcement by Finance Minister Nirmala Sitharaman allowing all banks to participate in government-related business. After technical integration, KMBL customers will be able to pay their dire...
Kotak Mahindra Bank gets nod to collect direct, indirect taxes
Kotak Mahindra Bank gets nod to collect direct, indirect taxes
Source: IANS
5/10/2021 4:10:21 PM
Three-tier GST rate structure likely by next fiscal The next few meetings of the GST Council would take the country's new indirect tax regime closer to the goal of providing a transparent tax system with minimal exemptions and fewer rates. Sources working on the GST rate rational said that a three rate tax structure may become a reality early next fiscal after the views of a group of ministers (GoM) set for purpose is presented before the GST Council. The idea is, sources said, to move away from the present broad five rate structur...
Three-tier GST rate structure likely by next fiscal
Three-tier GST rate structure likely by next fiscal
Source: IANS
3/10/2021 10:55:27 AM
GST Council meet today: Covid relief, bringing oil and gas indirect tax regime on agenda The GST Council will meet in Lucknow on Friday to take decisions on issues related to duty revision that were put on the back burner in earlier meetings to focus on the Covid relief measures amid rising cases during the second wave of the pandemic. The meeting, however, is expected to announce a few more Covid relief measures particularly on compliance matters. It will also announce a few measures to correct the inverted duty while discussing the compensation cess dues arising in 2021-2...
GST Council meet today: Covid relief, bringing oil and gas indirect tax regime on agenda
GST Council meet today: Covid relief, bringing oil and gas indirect tax regime on agenda
Source: IANS
17/09/2021 11:40:55 AM