Browsing Tag

tax collection

Direct Income Tax Collection Rises By 100% In Last 12 Months! Rs 1.86 Lakh Cr Tax Collected

Malvika Gurung Jun 17, 2021

The net direct tax collection by the Centre for the financial year 2021-22, has crossed over Rs 1.85 lakh crore. In an official statement released by the Ministry of Finance on Wednesday, the net direct tax collection by the Centre for…

Business

Govt ‘In No Position’ To Pay GST Dues To State; Can Rework The Formula Due To Dip In Tax…

Malvika Gurung Jul 30, 2020

Govt 'In No Position' To Pay GST Dues To State; Can Rework The Formula Due To Dip In Tax Revenues In a meeting held on Tuesday, the Union Finance Secretary Ajay Bhushan Pandey told the Parliamentary Standing Committee on Finance that…

economy

Now, No GST At Duty-Free Shops At Airports; But There’s A Catch!

Mohul Ghosh Jun 4, 2018 0

Income Tax Dept. has officially removed all GST charges from duty-free shops in airports, all across the country. However, this no GST ruling is only applicable for international tourists, who are entering or leaving India.

Business

Demonetization Creates 91 Lakh New Tax Payers In India; Direct Tax Collection Increases By 14.2%

Mohul Ghosh May 13, 2017 4

During 2015-16, there were only 55.9 million or 3.7 crore Indians who paid income tax in India. But during 2016-17 fiscal year, total tax payers have increased to 65 million or 6.5 crore. This means 9.1 million or 91 lakh new tax payers…