GoI: Rebate of State and Central Taxes Scheme in the form of Scrips

On May 1, 2020, the Government of India announced that the Rebate of State and Central Scheme arrears are to be provided in the form of scrips. It is to be provided by the Department of Revenue Communication. Highlights The ROSL scheme was discontinued in March 2019. The scheme was replaced with Rebate of State ..

Month: Current Affairs - May, 2020

Category: Government Schemes Current Affairs

Topics: Cotton • Export • Revenue Department • Tax rebate • Textile Industry • Textile Sector

61 Individuals Declared Annual Income of Over Rs 100 Crore

As per the information provided by Minister of State for Finance Pon Radhakrishnan to the Lok Sabha 61 individuals who declared an income of more than Rs 100 crore during the assessment year 2017-18. Even though the numbers have increased sharply from the 38 individuals reporting income over Rs 100 Crore in the previous assessment year, ..

Month: Current Affairs - February, 2019

Topics: Annual Income • Benami Properties Transactions Act • CBDT • Central Board of Direct Taxes • Income Tax • IT Department • Ministry of Finane • Revenue Department

Union Government imposes safeguard duty on certain steel imports

The Union Government has imposed safeguard duty on import of certain steel products to protect domestic manufacturers from cheap in-bound shipments. It was imposed by the Revenue Department on steel products like hot rolled flat sheets and plates of alloy (excluding hot rolled flat products in coil form) or non-alloy steel. Key Facts The effective ..

Month: Current Affairs - November, 2016

Topics: Business • Economy • International Trade • National • Revenue Department • Safeguard Duty • Steel Industry