Last year, the RBI gave an interim dividend of Rs 28,000 crore to the Centre in March, allowing it to prevent the deficits from enlarging from the RE levels. It is possible that RBI could issue an interim dividend by March 31
The states’ own GST revenues — SGST receipts minus the compensation from the Centre — were short of the aggregate protected level by `1.15 lakh crore or 23% in April-February this year, according to data reviewed by FE.
Budget 2020 India: Also, the GST collections seem to be rising (January mop-up was about Rs 1.11 lakh crore, the second highest in any month since the launch of the tax) and if the trend is sustained, the shortfall could be r
Budget 2020 India: Given that the indirect tax scheme appealed mostly to smaller taxpayers in the cost-benefit analysis, the same could replicate for the scheme resulting in personal income tax disputes getting resolved.
Budget 2020-21: On the personal income tax front, the government has cut the RE by only about Rs 9,500 crore and the BE for next fiscal has been pegged to grow at 14% over the RE of the current fiscal.
Over 87% of 1.8 lakh eligible taxpayers applied for the leniency scheme by Monday, according to officials. The government had earlier said 1.6 lakh taxpayers committed to pay Rs 35,094 crore of Rs 79,968 crore claimed by the
An analysis by the goods and services tax (GST) department showed that as much as 39% or Rs. 2.5 lakh crore of input tax credit (ITC) claimed by taxpayers in FY18 remained unmatched with the invoices uploaded by their supplie