Last Updated: Wednesday, June 3, 2015, 18:29
In case of voluntary payments along with interest, reduced penalty have been provided depending upon the stage of litigation i.e. Prior to issuance of show cause notice, after issuance of show cause notice but before adjudication or after adjudication.
Last Updated: Sunday, May 17, 2015, 18:17
Government has missed the overall revised tax collection target for both direct and indirect taxes by Rs 2,288 cr.
Last Updated: Tuesday, May 12, 2015, 20:31
Led by over two-fold surge in excise duty collections, indirect tax revenue jumped 46.2 percent to Rs 47,747 crore in April this year compared to the same month last year.
Last Updated: Thursday, May 7, 2015, 13:37
GST, the new indirect tax regime, is scheduled to be rolled out across the country on April 1, 2016.
Last Updated: Wednesday, May 6, 2015, 18:28
The GST subsumes various central indirect taxes including the Central Excise Duty, Countervailing Duty, Service Tax, etc. It also subsumes state value added tax, octroi and entry tax, luxury tax, etc.
Last Updated: Wednesday, May 6, 2015, 17:43
The passage of the Constitution Amendment Bill in the Lok Sabha will ensure GST implementation by April 2016, but first it has to pass muster in the Rajya Sabha, experts said.
Last Updated: Wednesday, May 6, 2015, 16:31
GST, which is proposed to be implemented from April 1, 2016, will subsume excise, service tax, state VAT, entry tax, octroi and other state levies.
Last Updated: Tuesday, May 5, 2015, 20:48
A face-off between the opposition and government over the Goods and Services Tax (GST) bill is likely with the Congress and some other opposition parties insisting that it be sent to the Parliamentary Standing Committee for scrutiny.
Last Updated: Tuesday, May 5, 2015, 19:20
Opposition members insisted that bill be referred to the Standing Committee on Finance as it was a new bill as opposed to the one brought by the UPA government.
Last Updated: Wednesday, April 22, 2015, 13:12
Jaitley said he is optimistic about introduction of GST, which will create a nationwide unified market and remove trade barriers in the form of cascading effects of taxation, from April 1, 2016.
Last Updated: Wednesday, April 22, 2015, 12:51
Finance Minister Arun Jaitley on Wednesday said the government will go ahead with GST Constitutional Amendment Bill in the ongoing session of Parliament.
Last Updated: Friday, April 10, 2015, 18:05
A consensus would be built among states for implementation of the Goods and Services Tax by April 2016 as there is no "obstinate opposition" from any state, said K M Mani, the newly selected Chairman of the Empowered Committee of State Finance Ministers.
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