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REVENUE FOREGONE
Government forwent Rs 1 lakh crore via excise duty cuts to shield consumers from fuel inflation: FMIndia's Finance Minister Nirmala Sitharaman explains recent fuel price increases are market-driven by oil companies. She noted the governme...- Rs 400 crore agricultural income but no land: CBDT digs up names of rich ‘farmers’ without farmsTax authorities have uncovered a major scam involving fake agricultural income claims. Over 300 individuals claimed exemptions worth thousa...
- Reforms set to boost consumption, won't hit fiscal numbers: Moody'sMoody's reports that Goods and Services Tax reforms will likely boost India's economic growth. These reforms aim to increase private consum...
- Corporate tax revenue foregone at Rs 99,000 crore in FY24: MoS FinanceThe government faced an estimated revenue loss of Rs 99,000 crore in fiscal year 2023-24 due to corporate tax incentives, according to Mini...
- Tata Comm gross revenue under-reporting led to Rs 645 crore lower govt fee collection: CAG"Audit scrutiny of Audited AGR Statements with reference to Profit & Loss Statements and Balance Sheets in respect of NLD, ILD and ISP-IT l...
- Revenue foregone to corporates estimated at Rs 99,842.06 cr in 2019-20Though the revenue impact has been quantified in terms of tax expenditure, it does not imply that this quantum of revenue has been waived b...
- Revenue foregone to corporates estimated at Rs 1,08,785 croreCompanies take advantage of various concessions to reduce tax liability, while individuals park their funds in tax savings scheme to cut ta...
- Watering holes along highways go high and dry following Supreme Court orderIn Delhi, 100 restaurants, liquor vends and bars, including those in five star hotels, along the six national highways passing through the ...
- Budget 2017: Tax incentives to corporates to cost Rs 83,492 cr in FY17As per the Budget document 2017-18, the revenue foregone stood at Rs 76,857.70 crore in the 2015-16 fiscal.
- What is Receipts Budget?The document provides the arrears of tax revenues and non-tax revenues, as mandated under the Fiscal Responsibility and Budget Management R...
- GST Compensation Bill to detail revenue foregone by statesThe Compensation Bill will provide a legal backing to the Centre's promise to compensate the states if their revenue growth rate falls belo...
- Budget 2016: Government to forego Rs 68,711 crore in incentives, exemptions in FY16Revenue foregone on account of deduction of export profits of units located in SEZs (section 10A and 10AA) will be to the tune of Rs 17,619...
- Over Rs 77.6 cr tax revenue foregone to SEZs in 3 yearsOver Rs 77,600 crore revenue has been foregone by government in tax incentives to special economic zones (SEZs) in the last three financial...
- Revenue foregone to corporates estimated at Rs 62,000 crore in FY15Companies take advantage of various concessions to reduce tax liability, while individuals park their funds in tax savings scheme to reduce...
- Rs 83,000 crore revenue lost on special economic zones in 6 years"Tax concessions to SEZs for the period 2007 to 2013 works out to Rs 83,104 crore on account of direct taxes and customs," sources said.
- Budget 2010: Govt foregoes same as it collects in taxesGovt lost Rs 5, 02,299 crore of potential revenue during 2009-10 on account of various exemptions, rebates and concessions given to individ...
- Rs 278,644 crore foregone in 2007-08 due to exemptionsGovt would have raked in Rs 2,78,644 crore in 2007-08 as additional taxes had it not given any exemptions.
- Exemptions to wipe out half of gross tax mop-upThe government stands to lose half its gross tax collections on account of various exemptions.
- Exemptions biggest drag on tax kittyThe government stands to lose half of its gross tax collections on account of various exemptions.
- Customs-made exemptions biggest drag on tax kittyThe government stands to lose half of its gross tax collections on account of various exemptions. This explains the emphasis on phasing out...
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