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CALAMITY TAX
IMF, World Bank meetings show limits in mitigating shocks, reliance on US for solutionsGlobal finance leaders met amid Middle East war news. They acknowledged their limited ability to counter economic damage from frequent geop...- Last date to file ITR: Will government extend ITR filing deadline for these taxpayers?Some taxpayers from certain states are hopeful for an extension due to the difficulties they have faced or are facing due to natural calami...
- Uttar Pradesh, Karnataka and Maharashtra paid maximum tax for tobacco itemsIndia's central government has collected the highest amount of taxes from tobacco and tobacco products from the populous states Uttar Prade...
- Create a market for catastrophe bondsFor another, these offer attractive yields, and so can well be lapped up by long-term investors with the requisite risk appetite.
- Finance Ministry not considering calamity cess on GSTMinistry sources said that in the present economic scenario during the COVID-19 pandemic, any purported proposal of introducing a calamity ...
- ITC plunges most in over two years on higher cigarette tax shockHigher taxes on so-called sin goods will help the government bridge a widening fiscal deficit.
- GoM wants exemption limit for MSMEs to be increased, GST council yet to decideThe Group of Ministers under Modi has also suggested to the GST Council to allow additional borrowing over the permitted limit by states hi...
- GST ministerial panel favours Kerala levying 1% cess for 2 yearsThe Group of Ministers under Modi has also suggested to the GST Council to allow additional borrowing over the permitted limit by states hi...
- Ministerial panels on GST relief to MSMEs, levy of calamity cess to meet todayCurrently, businesses with annual turnover of up to Rs 20 lakh are exempt from the Goods and Services Tax (GST).
- Group of ministers says GST Council to seek states' views on 'disaster tax'"The GoM has decided that the GST Council will prepare a questionnaire and send to states for response..Out of the terms of reference of th...
- Imposition of calamity tax with GST not advisable: CAITThe Confederation of All India Traders (CAIT) in a statement said that any move to impose calamity tax with the GST will set a wrong preced...
- GST Council sets up GoM to review help for states hit by natural calamityJaitley said the GoM would also consider if the SDRF and NDRF mechanism were sufficient to address the issue or if more was needed to be do...
- GST Council discusses revenue shortfall, sets up GoM on 'calamity tax'The GoM, which has Assam FinMin Himanta Biswa Sarma and Kerala FinMin Thomas Isaac as members, would submit its report by October 31.
- GoM formed to look into Kerala's demand for calamity cess: JaitleyThe Council also reviewed revenue trends and deficit of states, he said, adding state deficit this year is 13 per cent and may reduce furth...
- Decoding the rationale behind finance ministers' obsession with tobacco during budget makingMadhu Dandvate wanted to discourage smokers with higher taxes, though he interpreted this not as a role of the government but as a familial...
- P Chidambaram debunks government stand on capping GST rate in statuteChidambaram debunked the govt's stand that GST tax rate cannot be capped and put in the Constitution saying there was a precedent.
- Delayed GST bill better than flawed one: P ChidambaramChidambaram said he agrees with Finance Minister Arun Jaitley that a delayed GST bill is better than a flawed one, contending that the pres...
- Last date for advance tax payments in Jammu and Kashmir extended till December 15These taxpayers can now pay their September 2014 installment of advance tax by December 15, 2014 without entailing any consequential intere...
- No service tax for hotels, eating joints in Uttarakhand: Finance MinistryAll hotels, guest houses, clubs and eating joints like restaurants in calamity-hit Uttarakhand have been given exemption from service tax.
- Hike in I-T exemption: Here are lesser known taxes that you will have to payBefore you celebrate the increase in exemption bestowed by the budget, go through the list of other, lesser known taxes that you will be re...
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