Topic: Tax
The government has started to zero-in on the companies which have not declared their geo-tags. This is based on suspicions of illegal money market or even routing to terrorist funds. Comment.
The governmental crackdown on many registered businesses who have not declared their geo-tags is a welcome step as the fears of the government that these firms could be...
‘AIS for Taxpayer’ Mobile App
The Income Tax Department has launched a mobile app named ‘AIS for Taxpayer’ to help taxpayers get a comprehensive view of their Annual Information Statement (AIS) on their...
Fifteenth Finance Commission meets to discuss Health Sector and Fiscal Consolidation
On May 21, 2020, the Fifteenth Finance Commission met to discuss health sector and fiscal consolidation in the country. Highlights A high-level group was constituted by the Finance...
CBDT releases relief funds to MSME
The Central Board of Direct Taxes (CBDT) issued Rs 5,204 cores as relief funds to MSME (Micro Medium and Small Enterprises) sector. Around 8.2 lakh small businesses have...
MEIS scheme to be replaced with RoDTEP Scheme
On March 13, 2020, the Union Cabinet approved to withdraw the MEIS (Merchandise Export from India) Scheme in phases. It is later to be replaced with RoDTEP (Remission...
India has the third-highest trade-related illicit financial flow globally
US-based think tank Global Financial Integrity (GFI) recently released a report titled “Trade-related Illicit Financial Flows in 135 Developing Countries: 2008-2017”. As per the report, five countries with...
Second National GST Conference of Central and State Tax Commissioners held
On January 7, 2020, the second National GST Conference and Central and State Commissioners was held to streamline the Goods and Services Tax. The Revenue Secretary of Ministry...
Consultative Committee meeting chaired by Minister of North Eastern Region
The Union Minister Dr Jitendra Singh chaired the Parliamentary Consultative Committee meeting of the North Eastern Region on December 12, 2019. The issues of development of North East...
USA- France trade dispute
The tariff dispute between USA and France has started affecting bilateral trade. Recently, USA threatened to impose a 100% tariff on French imports such as wine, cheese and...
Panel to revive GST Collections
The GST collection in September 2019, dropped sharply to a 19-month low. This reflects the widening slowdown of the economy. The tax collections were Rs 91,916 crore in...
