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Fiscal deficit for the financial year 2016-17 is budgeted at 3.5 per cent.

Dip in revenues may widen fiscal gap to 3.5 per cent in FY19: report

Total revenues and expenditure of the govt, will come at Rs 6.67 lakh cr as against the budgeted Rs 6.24 lakh cr.

26 Nov 2018 2:16 PM IST

The Income Tax Department has detected undisclosed income of over Rs 10,000 crore in fiscal 2017-18, thus recording a 20 per cent surge over the previous fiscal.

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 IST

The government is considering converting GST Network- which is handling the IT infrastructure of the new indirect tax regime - into a state-owned company, an official source said.

Rs 82,775 cr GST refunds to exporters done; Rs 5,400 cr is pending

The disposal rate of GST refunds is 93.8 per cent as on October 31.

10 Nov 2018 10:59 AM IST

The government is considering converting GST Network- which is handling the IT infrastructure of the new indirect tax regime - into a state-owned company, an official source said.

GST collections cross Rs 1 lakh crore in October

The revenue from goods and services tax (GST) in September was Rs 94,442 crore.

1 Nov 2018 1:00 PM IST

To improve ease of doing business, a new scheme of self-assessment-based duty-free procurement of inputs required for exports has been introduced.

India's external sector prospects look bright: Economic Survey

India remained the eighth largest exporter in commercial services in the world in 2016 with share of 3.4 per cent.

29 Jan 2018 2:09 PM IST

According to sources in the finance department, the GST collection was not expected to be so high and hence it had asked the Centre for a compensation of Rs 6500 crore.

GST collections reverse trend; rise to Rs 86,703 crore in December

As many as 56.30 lakh GSTR 3B returns have been filed for December.

26 Jan 2018 9:59 AM IST

Currently, under construction projects are subject to 18% GST rate with one-third abatement for land bringing down the effective tax rate to 12%.

Realty firms want GST cut for affordable housing

The industry has also requested the government to grant industry status to avail long-term finance at a lower cost.

25 Jan 2018 6:35 AM IST

Finance Minister Arun Jaitley said the new process would be finalised in the next meeting of the GST Council after a written formulation is circulated to the states. (Photo: Twitter | ANI)

GST rates slashed on 29 goods, 54 services

Returns filing process will be made easier.

19 Jan 2018 1:36 AM IST

Finance Minister Arun Jaitley said the new process would be finalised in the next meeting of the GST Council after a written formulation is circulated to the states. (Photo: Twitter | ANI)

GST Council reduced rates of 29 goods, 54 categories of services

Jaitley said next meet may consider bringing crude oil, natural gas, petrol, diesel, ATF and real estate within GST...

18 Jan 2018 8:44 PM IST

Arun Jaitley said, the reservation formula for the Patel community is legally and constitutionally untenable. (Photo: PTI)

Will Budget 2018-19 be another pathbreaker?

Export credit is another underserved area that deserves attention in the Budget.

19 Jan 2018 11:48 PM IST

Students from Gwalior launched this campaign to create awareness about harassment faced by women and to make efforts toward their empowerment. (Photo: ANI)

Gwalior students write messages to PM on sanitary pads to oust 12 per...

The campaign was started on January 4. It has been receiving extensive support from people through social media.

10 Jan 2018 11:07 AM IST

RBI kept interest rates unchanged despite calls for lowering it while it slashed the economic growth projection by half a per cent to 7.1 in the first policy review post demonetisation.

India has huge potential, might bypass China in 2018: World Bank

'India has an ambitious government undertaking comprehensive reforms,' said the Director of Development Prospects Group,...

10 Jan 2018 8:08 AM IST