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GST reduced tax rates on household goods: Finance ministry The finance ministry said Goods and Services Tax (GST), which completed 7 years of implementation on Monday, has brought happiness and relief to every home through reduced taxes on household appliances and mobile phones. The ministry said the GST taxpayer base has increased to 1.46 crore in April 2024 from 1.05 crore as of April 2018. GST, which subsumed about 17 local tax and cesses, was rolled out on July 1, 2017. It stated household goods like cosmetics, wrist watches, sanitary plastic ...
GST reduced tax rates on household goods: Finance ministry
GST reduced tax rates on household goods: Finance ministry
Source: Accord Fintech
2024-07-02 10:32:36 am
GST collection jumps 7.7 pc in June to Rs 1.74 lakh crore India's gross GST collection rose to Rs 1.74 lakh crore in June this year which represents a 7.7 per cent increase over the same month last year, according to sources.  This takes the total GST (goods and services tax) mop-up for the first three months of the current financial year to Rs 5.57 lakh crore. In April 2023, GST collection had soared to a record high of Rs 1.87 lakh crore. GST collections have been rising steadily reflecting the country’s robust economic growth...
GST collection jumps 7.7 pc in June to Rs 1.74 lakh crore
GST collection jumps 7.7 pc in June to Rs 1.74 lakh crore
Source: IANS
2024-07-02 10:22:38 am
Government bonds worth Rs 29,000 crore coming up for auction on May 31 The Finance Ministry on Monday announced the sale of government bonds worth Rs 29,000 crore in three lots through auctions to be conducted by the Reserve Bank of India in Mumbai on May 31. The first lot comprises “New Government Security 2029” for a notified amount of 12,000 crore through a yield-based auction using multiple price methods. The second lot of “New GOI SGrB 2034” worth 6,000 crore will also be auctioned through a yield-based auction using multiple pric...
Government bonds worth Rs 29,000 crore coming up for auction on May 31
Government bonds worth Rs 29,000 crore coming up for auction on May 31
Source: IANS
2024-05-28 10:05:10 am
Direct tax collections record 17.6% rise to Rs 12.37 lakh cr The country’s gross direct tax collections have risen to Rs 12.37 lakh crore mark as of November 9 during the current financial tear which represents a 17.59 per cent increase over the same period of the previous year, according to data released by the Finance Ministry on Friday. Direct Tax collection, net of refunds, stands at Rs 10.60 lakh crore, which is 21.82 per cent higher than the net collections for the corresponding period of last year. This collection is 58.15 per cent of t...
Direct tax collections record 17.6% rise to Rs 12.37 lakh cr
Direct tax collections record 17.6% rise to Rs 12.37 lakh cr
Source: IANS
2023-11-10 04:04:03 pm
Economic outlook remains bright in current fiscal as activity maintained momentum: FinMin document India?s economic outlook for 2023-24 remains bright as economic activity maintained its momentum in August, according to a finance ministry document. The monthly economic review released by the finance ministry on Friday stated that the monsoon deficit of August has been partially plugged in September and that is good news. "It is heartening that rains in September have erased a portion of the rainfall deficit at the end of August. A stock market correction, in the wake of an overdu...
Economic outlook remains bright in current fiscal as activity maintained momentum: FinMin document
Economic outlook remains bright in current fiscal as activity maintained momentum: FinMin document
Source: IANS
2023-09-22 12:58:54 pm
Government likely to stick to market borrowing plan for raising Rs 6.55 lakh crore The government is likely to stick to its borrowing plan for raising Rs 6.55 lakh through the sale of bonds in the market during the second half of the current financial year (October to March, 2024).A senior official said that although revenue collections have been robust with both GST and direct tax collections showing a sharp increase in the current financial year, there is no plan, as of now, to reduce borrowing.Sources said that the government wants to keep up the momentum of its investme...
Government likely to stick to market borrowing plan for raising Rs 6.55 lakh crore
Government likely to stick to market borrowing plan for raising Rs 6.55 lakh crore
Source: IANS
2023-09-20 04:48:10pm
Japan records $6.3 bn trade deficit in August Amid drop in exports and imports, Japan recorded $6.3 biliion trade deficit in August, the government said in a report on Wednesday.According to the Finance Ministry, the country's trade deficit stood at 930.5 billion yen (6.3 billion US dollars) in the recording period, as exports continued to shrink, falling by 0.8 per cent to 7.99 trillion yen, Xinhua news agency reported.Meanwhile, imports declined for the fifth consecutive month to 8.92 trillion yen, down 17.8 per cent year on year, the ...
Japan records $6.3 bn trade deficit in August
Japan records $6.3 bn trade deficit in August
Source: IANS
2023-09-20 10:57:21am
Net direct tax collection surges 23.51% to over Rs 8.65 lakh crore till mid-September: Finance Ministry The Finance Ministry has said that net direct tax collection grew 23.51 per cent to over Rs 8.65 lakh crore till mid-September 2023, on higher advance tax mop-up from corporates. The ministry stated that the net direct tax collection of Rs 8,65,117 crore (as on September 16) includes corporate income tax (CIT) at Rs 4,16,217 crore and personal income tax (PIT) including Securities Transaction Tax (STT) at Rs 4,47,291 crore.?Net collections was Rs 7,00,416 crore in the corresponding period of ...
Net direct tax collection surges 23.51% to over Rs 8.65 lakh crore till mid-September: Finance Ministry
Net direct tax collection surges 23.51% to over Rs 8.65 lakh crore till mid-September: Finance Ministry
Source: Accord Fintech
2023-09-20 10:17:30am
Government announces family pension for LIC employees, hikes gratuity limit for agents Government on Monday announced family pension at a uniform rate of 30 per cent for the welfare of the families of LIC employees.It has also enhanced the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents.Announcing a slew of welfare measures for LIC agents and employees, the Finance Ministry said that these will bring substantial improvements to the working condition and benefits of LIC agents.The term insurance cover for the agents has also been expanded from the existing range of Rs ...
Government announces family pension for LIC employees, hikes gratuity limit for agents
Government announces family pension for LIC employees, hikes gratuity limit for agents
Source: IANS
2023-09-18 04:43:43pm