Indirect Tax

Tuesday, Apr 23, 2024 | Last Update : 04:12 PM IST

Though the tax structure has tried to solve major issues relating to the taxing in India, the reform has many challenges.

GST structure: key challenges and its solutions

Govt on several occasions has given clarifications to reduce ambiguities and make the process smooth and easy.

19 Nov 2019 11:07 AM

The changes would ensure that indirect taxation-related matter would have greater simplicity and be effective, said Finance Minister Nirmala Sitharaman.

7 indirect tax-related laws being amended: FM Sitharaman

The government would also be bringing changes to seven laws related to direct taxes.

18 Jul 2019 3:00 PM

The Government had budgeted to collect Rs 11.50 lakh crore from direct taxes and Rs 7.43 lakh crore from GST in 2018-19.

Economic Survey: GDP ratio dips to 10.9 pc on shortfall in indirect tax revenues

In 2018-19, direct taxes grew by 13.4 per cent owing to improved performance of corporate tax.

04 Jul 2019 3:11 PM

Unlike other tax returns, there is no option to revise monthly or quarterly returns under GST which is the main cause of the entire prevailing situation.

Tax body seeks extension of GST return filing by four months

Govt has made the entire GST procedure and filing of returns very 'confusing with hundreds of changes in the rules and taxes'.

19 Jun 2019 4:31 PM

The bench listed the batch of petitions before a three-judge bench to decide the question of law on the power of arrest. (Photo: File | ANI)

SC agrees to examine power of tax authorities to arrest individual for GST evasion

The bench also asked all the high courts to keep in mind, while dealing with grant of anticipatory bail in GST evasion cases.

29 May 2019 11:43 AM

GST law allows a person to take separate registration on same Permanent Account Number (PAN) in the same state.

CBIC asks GST officers to be cautious while processing fresh registration

A large number of registrations has been cancelled by tax officers on account of non-compliance.

03 Apr 2019 1:21 PM

"On direct taxes, we are reasonably confident of (meeting the target). But on the indirect tax front, there may be some shortfall," Economic Affairs Secretary Subhash Chandra Garg said last week. (Photo: File)

Net direct tax collection crosses Rs 10 lakh crore mark

Tax collection during April-January of this fiscal stood at Rs 7.89 lakh crore as against Rs 12 lakh crore targeted for 2018-19.

19 Mar 2019 1:59 PM

Currently, the GST is levied at 12 pc with input tax credit (ITC) on payments made for under-construction property.

GST Council to consider implementation of lower GST rates for realty sector

GST collections in February dropped to Rs 97,247 crore from Rs 1.02 lakh crore in the previous month.

18 Mar 2019 2:44 PM

The Adani project will be ready by the end of 2022. (Photo: File)

Govt approves Adani Power's Rs 14,000-cr J'khand SEZ project

The project was approved by highest decision making body on SEZ - Board of Approval - chaired by the commerce secretary.

03 Mar 2019 10:47 AM

The government intends to earn 8 paise from non-tax revenue like disinvestment, while it plans to mobilise 3 paise from non-debt capital receipts.

For every rupee in govt kitty, 70 paise comes from direct, indirect taxes

The collection from GST has been pegged at 21 paise as a percentage of every rupee earned.

01 Feb 2019 3:51 PM

The net direct tax collections represent 48 per cent of the total budget estimates of direct taxes for financial year 2018-19 (Rs 11.50 lakh crore).

Direct tax collections surge 15.7 pc to Rs 6.75 lakh cr in Apr-Nov

Refunds worth Rs 1.23 lakh crore have been issued in the eight months of the current fiscal.

10 Dec 2018 12:52 PM

Of the total recovery, Rs 3,124 crore was from GST evaders, followed by Rs 2,174 crore in case of service tax.

Rs 29,088 crore indirect tax evasion detected during April-Oct

The total number of cases where service tax was evaded stood at 1,145 involving Rs 22,973 crore.

21 Nov 2018 3:36 PM

Finance Minister Arun Jaitley. (Photo: Twitter | ANI)

Demonetisation led to formalisation of economy, expanded tax base: Jaitley

The indirect tax to GDP ratio has gone up to 5.4 per cent post GST, from 4.4 per cent in 2014-15.

08 Nov 2018 12:29 PM

Hasmukh Adhia leads drive to bolster GST inflow

GST collection for month of July touched Rs 96,483 cr, slightly higher than Rs 95,610 cr collected in June.

24 Aug 2018 8:41 AM

A dual rate structure with a low standard rate and an additional higher rate on select items can be progressive and preserve revenue neutrality. (Photo: AFP)

IMF asks India to consider simpler GST rate structure

GST as presently designed has an effective tax rate rising with household consumption.

08 Aug 2018 9:21 AM

Sanjeev Sanyal, Principal Economic Adviser to the Finance Ministry.

GST slabs may reduce to 3 in long-term: Sanjeev Sanyal

Presently, there are four GST slabs of 5, 12, 18 and 28 per cent, plus the exempted category which attracts 0 per cent GST.

04 Aug 2018 4:13 PM

Closer to first anniversary of GST, the government on Monday said the new indirect tax regime has added more jobs in formal sector and widened taxpayer base.

Govt appeals honesty in tax payment ahead of GST anniversary

The new indirect tax regime has added more jobs in formal sector and widened taxpayer base.

19 Jun 2018 11:44 AM

Philippines, India and Indonesia – are likely to garner the most support from ongoing tax reforms in the medium term.

Tax reforms to expand revenue base in India: Moody's

India and Sri Lanka have both recently streamlined and levied their VAT or GST regimes.

31 May 2018 3:51 PM

The e-way bill for moving goods within a state will become mandatory from June 3, with the country-wide roll out of the mechanism.

Country-wide intra-state e-way bill system mandatory from June 3

Since the implementation of the same from April 1, 2018, more than 4.5 crore e-way bills have been generated.

22 May 2018 7:23 PM

The government mopped up Rs 1.03 lakh crore as GST collection in April.

GST collection in April exceeds Rs 1 lakh crore

The buoyancy in the tax revenue of GST reflects the upswing in the economy and better compliance.

01 May 2018 2:03 PM

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Aakar Patel

indirect tax