Page-2 of Taxation Current Affairs, GK & News

Tweaks to the FPIs in Union Budget

The Indian Government has made a few tweaks to the norms of foreign portfolio investors (FPIs) to attract funding for the Indian capital market. What has happened? The Indian Government had, in the recent Union Budget, announced that increased surcharge will now be applicable to the FPIs. The Indian Government had levied an increase in ..

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2 years of GST

The landmark one-nation, one-tax reform, the Goods and Services Tax (GST) was introduced on July 1, 2017. In its two year journey, it has shown some hiccups, a little more challenges and a lot of potential for future growth. What is GST? The Goods and Services Tax is a destination based, value-added tax on the ..

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Government receives Rs. 3,000 crore from MNCs that have entered into APAs

Union Government has received Rs. 3,000 crore of additional tax from MNCs that have entered into advance pricing agreements (APAs) with it over last five years and also has eliminatedbig source of tax litigation. It was revealed in recently released annual report on advance pricing agreements (APAs) for FY18 by Central Board of Direct Taxes ..

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Government raises threshold monetary limit for filling appeals relating to tax cases

Union Finance Ministry has hiked threshold monetary limit for tax departments to file appeals all three levels of appeal — Appellate Tribunals, High Courts, and Supreme Court. The move is aimed at significantly decreasing taxpayer greivances and litigation burden of tax departments in courts and tribunals across the country. Key Facts Tax departments, Central Board ..

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S Ramesh appointed as Chairman of CBIC

The Union Government has appointed senior bureaucrat S Ramesh as chairman of Central Board of Indirect Taxes and Customs (CBIC), the apex policy-making body for indirect taxes. He has been appointed as chairman of CBIC with the status of special secretary to the central government. He will succeed Vanaja N Sarna who retired on June ..

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