EU loses 168 billion euros in sales tax fraud, errors

Last Updated: Friday, September 4, 2015, 22:40

EU countries lost 168 billion euros (USD 187 billion) in sales-tax revenue in 2013 mostly due to fraud and errors, the European Commission said on Thursday.

Tax officials search Chettinad group for third day

Last Updated: Friday, June 12, 2015, 15:02

Interestingly, the IT raids began a day after Ramaswamy, the former chairman and director of Chettinad Cement, alleged that the company owed the government huge amount in sales tax.

Logistics players can gain 30% on cost from GST: Crisil

Last Updated: Tuesday, June 9, 2015, 16:36

The elimination of check posts will also help deliver savings as goods move faster, the agency said, pointing out that the consumer durables sector will benefit the most.

SISPA seeks VAT reduction on cotton

Last Updated: Wednesday, June 3, 2015, 16:27

Considering this, SISPA wants VAT to be reduced to two percent on cotton, cotton yarn, blended and synthetic yarns to safeguard the spinning industry in the state and save the livelihood of lakhs of workers in textile industry, he said.

BOJ slightly more optimistic on economy as business mood improves

Last Updated: Friday, May 22, 2015, 10:34

As widely expected, the BOJ maintained its pledge of increasing base money at an annual pace of 80 trillion yen ($662 billion) through aggressive asset purchases.

Govt approves Rs 33,000 cr CST compensation to states/UTs

Last Updated: Tuesday, March 17, 2015, 23:09

Government Tuesday approved the release of Rs 33,000 crore in tranches to states and Union Territories to compensate them for revenue loss on account of phasing out of Central Sales Tax for three financial years up to 2012-13.

Rs 32,800 cr paid to states to compensate for CST loss: Sinha

Last Updated: Friday, March 13, 2015, 17:46

The Centre Friday said it has paid Rs 32,800 crore to states as compensation for phasing out of Central Sales Tax in the run-up to roll-out of Goods and Services Tax.

Govt seeks Parl nod for Rs 11000 cr CST compensation to states

Last Updated: Monday, March 9, 2015, 19:15

Government Monday sought approval of Parliament to release about Rs 11,000 crore to states and union territories to compensate them for revenue loss on account of phasing out of Central Sales Tax (CST).

Toyota raises full-year profit forecast to record $18 billion

Last Updated: Wednesday, February 4, 2015, 13:59

Toyota on Wednesday raised its earnings forecast for the year to March, saying it expects to book a record USD 18.1 billion annual net profit thanks to a weak yen and cost cuts.

Centre to release Rs 11,000 cr CST compensation to states: FM

Last Updated: Wednesday, December 10, 2014, 21:16

A day ahead of his meeting with state finance ministers, Union Finance Minister Arun Jaitley Wednesday said the government will soon release Rs 11,000 crore towards Central Sales Tax (CST) compensation, as part of consensus building for GST rollout.

Nikkei stays near multi-year highs due to optimism over US demand

Last Updated: Friday, December 5, 2014, 09:15

Japanese stocks remained near 7-1/2 year highs on Friday as optimism on the U.S. economy helped investors shrug off a delay to hoped-for eurozone easing.