The GoM on GST rate rationalization voted on Monday to increase the tax on sin goods such as aerated drinks, cigarettes, tobacco, and associated products to 35% from the current 28%, according to an official. The Group of Ministers (GoM) on Rate Rationalization, led by Bihar Deputy Chief Minister Samrat Chaudhary, has voted to lower … Read more
Net direct tax collection grew 22.48 per cent to about ₹ 6.93 lakh crore as of August 11 this fiscal, government data showed on Monday. The mop-up includes personal income tax collection of ₹ 4.47 lakh crore and corporate tax collection of ₹ 2.22 lakh crore. Securities Transaction Tax (STT) mopped up ₹ 21,599 crore, while other taxes (which include equalisation levy and … Read more
Attention Indians! Good news! In order to bring family members to the UK, British nationals and permanent residents will no longer need to earn at least Rs 41.5 lakh a year. The incoming Labour Party government has scrapped the proposed rise in the minimum income criterion. Former Prime Minister Rishi Sunak first proposed this action, … Read more
The central government is not considering any relaxation over the $4 billion tax demand it sent to Infosys, according to a government source. The tax demand on Infosys is in accordance to the good and services tax rules and the country’s second-largest IT services firm has sought 10 days to submit its response after meeting … Read more