While the cause of delay wasn’t clear even to individual tax officials FE spoke with, a central tax official said the lack of manpower due to Covid-19 could be one the reasons, even though the number of applications drastic
The levy is often referred to as ‘Google tax’ and is applied at the rate of 6% on payments for digital advertisement services received by non-resident companies without a permanent establishment (PE) here if these exceede
Faced with the challenge of providing relief to migrant labourers stuck in other states during April — before transportation became available on May 1 — Bihar has developed a mobile application (app) which could perform b
Apart from the Centre and states which have raised their market borrowing plan for the current fiscal year amid a big revenue shortfall, the Goods and Services Tax (GST) Council may also take an unprecedented step by resolvin
Bihar has estimated that relief measures so far in the wake of Covid-19 stand at a minimum of Rs 5,000 crore, which includes direct cash transfers, transportation cost and expenditure involved in keeping returnees in isolatio
Additionally, the revenue department is also considering treating a section of MSMEs under the GST scheme for composition dealers, so that they are taxed at concessional rates till the Covid-19 crisis blows away.
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.