Present indirect taxation system complete mess: Arun Jaitley

Last Updated: Friday, September 11, 2015, 00:02

Union Finance Minister Arun Jaitley Thursday said the present indirect taxation system is in a "complete mess" and sought support of political parties and state governments for implementation of Goods and Service Tax reform.

India may waive retrospective MAT tax on foreign investors

Last Updated: Saturday, August 22, 2015, 12:20

Although MAT has been applied to domestic companies to ensure a minimum tax payment, it had never been imposed on foreign institutional investors (FIIs).

Indirect tax collection growth shows economy improving: CEA

Last Updated: Wednesday, August 12, 2015, 12:14

The Finance Ministry on Wednesday said a steady 37 percent growth in indirect tax collections in four months to July reflects that underlying momentum in the economy is improving.

Stiff norms curbing profit growth in alcoholic beverages market: Moody's

Last Updated: Wednesday, July 29, 2015, 14:34

Restrictive regulations, including progressive taxation and pricing controls are curbing profit growth in alcoholic beverages market, while keeping high barriers for new entrants in the country, says a report.

New norms for manual scrutiny of service tax returns from August

Last Updated: Friday, July 17, 2015, 17:03

Central Board of Excise and Customs (CBEC) will start detailed manual scrutiny of service tax returns of assessees based on risk parameters under modified norms from August 1.

India for equal say among nations on global tax norms

Last Updated: Wednesday, July 15, 2015, 22:00

"Greater information exchange is good, but not a substitute for genuine and equitable multilateralism in deciding global norms and standards on taxation.

DTAA with Mauritius will be revised soon: Revenue Secretary

Last Updated: Friday, July 10, 2015, 00:00

The negotiations on the double taxation avoidance agreement (DTAA) between India and Mauritius are in advanced stage and the pact would be revised soon, Finance Ministry said Thursday.

India, US sign FATCA to fight tax evasion

Last Updated: Thursday, July 9, 2015, 17:21

To check offshore tax evasion, India and the US on Thursday signed an agreement to implement FATCA that will facilitate exchange of information between the two countries from October 1.

India, US to sign tax pact Thursday: Sources

Last Updated: Wednesday, July 8, 2015, 19:29

India and the United States will sign a tax information sharing agreement on Thursday, under a new U.S. law meant to combat offshore tax dodging by Americans, two Indian government sources and a source at the U.S. embassy said.

Shah panel holds meeting with Tax Dept

Last Updated: Tuesday, July 7, 2015, 17:54

The high-level Justice A P Shah panel, set up to look into the levy of MAT on FIIs today held consultations with officials of the tax department.

GST will end cobweb of various taxes: FM Jaitley to traders

Last Updated: Sunday, July 5, 2015, 14:06

A CAIT delegation led by National Secretary General Praveen Khandelwal on Saturday met Finance Minister Jaitley and put forth their reservations over the proposed GST and the complexities its presents.