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Ministry of Finance News
Ministry of Finance
Exclusive: India seeks hefty dividends from state firms as its revenues falter
Mon, Nov 13, 2017
The demand has been made following a finance ministry assessment on Oct. 25 of the financial health of 14 state companies, including top miner NMDC Ltd and trading firm MMTC Ltd, according to a government document reviewed by Reuters.
7th Pay Commission: Revision in pay hike of FTII employees' gets green signal from govt
Wed, Nov 08, 2017
Union Cabinet on June 28, among many recommendations under the 7CPC, also approved raising the minimum pay from Rs 7,000 to Rs 18,000 per month and fitment factor to 2.57 times.
Demonetisation not one-stop solution to end corruption: Jaitley
Tue, Nov 07, 2017
"Demonetisation is not a one-stop solution to end corruption. It cannot be, but it did change the agenda. And that changed agenda is that we should go towards less-cash economy. Individual tax payers` number has increased, digital transactions have gone up and terror funding has squeezed," Jaitley said.
Direct Tax collections' reach 39.4% of FY18 Budget Estimates
Wed, Oct 11, 2017
In the Union Budget 2017, the government has fixed direct collections target at Rs 9.8 lakh crore. So far, the govt has received Rs 3.86 lakh crore between April - September 2017.
62% taxpayers file final GST returns for July 2017; What happens to those who missed
Wed, Oct 11, 2017
GSTR-1 is a monthly return that summarizes all outward supplies by normal and casual registered taxpayers. The deadline to file this form ended on October 10, 2017.
Last day for filing GSTR-1 return for July 2017; Key details to remember
Tue, Oct 10, 2017
GSTR-1 is a 13 section form which needs to be filed by every registered dealer containing details of their sales transation for the month.
7th Pay Commission: Arrears on your revised minimum pay may soon stop
Mon, Oct 09, 2017
On June 28, 2017, Finance Minister Arun Jaitley chaired Union Cabinet approved the recommendations under 7th Pay Commission with 34 modifications.
GST Council to continue rationalising rates: Pratap Shukla
Sat, Oct 07, 2017
Sovereign Gold Bonds tranche-III issue opens on October 9
Sat, Oct 07, 2017
The government on Friday said the "Sovereign Gold Bonds 2017-18 -- Series-III" will open for public subscription from October 9 to December 27, 2017.
Uday Kotak Committee suggests changes in corporate governance rules; Key changes
Fri, Oct 06, 2017
Sebi has introduced new norms to safeguard and improve the performance of Independent Directors, related party transaction, listed companies and general meetings.
Rs 4500 crore deposited, withdrawn from suspected shell companies' accounts, Govt says
Fri, Oct 06, 2017
Banks started scanning last week all the account details of directors who were disqualified by the ministry of corporate affairs as part of alleged shell companies.
New Rs 100 notes are coming this April 2018?
Wed, Oct 04, 2017
Rs 100 may be soon distributed in India in two formats both banknotes and coin pattern. RBI so far has revamped four bank notes in a move to eliminate fake currency.
Excise duty on petrol, diesel cut by Rs 2 per litre; revenue loss of Rs 13,000 crore in FY18
Tue, Oct 03, 2017
Petrol and diesel prices have reached to a three year high since the time they have undergone daily revision - which has impacted India's Wholesale Price Index (WPI) inflation too.
India's fiscal deficit in August crosses 96% of budget estimates
Fri, Sep 29, 2017
The government has estimated fiscal deficit of Rs 546,532 crore for FY18 - out of which it has reached at a deficit of Rs 525,045 crore by end of August.
Banks begin searching for accounts of shell companies' directors
Tue, Sep 26, 2017
A Shell company is an entity without any active business operations or significant assets. In India it has presently stolen limelight as it has become a cause of concern in regards to black money.
Taxpayers can revise TRANS 1 Form till October 31
Fri, Sep 22, 2017
Ministry of Finance on Friday said that the mistakes made while filing TRANS 1 Form of admissible credit can now be corrected by taxpayers. The Ministry in a release said that GST Council has decided to provide a facility for assessees to revise their TRANS 1 form.
7th Pay Commission: Ministry of Finance likely to take final call on minimum pay hike by January
Thu, Sep 21, 2017
The Ministry of Finance is planning to raise the minimum pay hike from Rs 18,000 to Rs 21,000 under 7th Pay Commission.
7th Pay Commission: Central govt employees not to get arrears on revised minimum pay
Fri, Sep 15, 2017
While the central government employees are hoping to get hike in minimum pay under 7th Pay Commission soon, the government has now decided that the employees will not get arrears on revised minimum pay, a media report said.
New Rs 100 coin coming soon; All you need to know
Tue, Sep 12, 2017
Rs 100 coins will be launched in two format first one baring the mark of Dr. M. S. Subbulakshmi and the second one barring of Dr. M.G. Ramachandran Birth Centenary.
UIDAI chief A B Pandey appointed interim GSTN chairman
Fri, Sep 08, 2017
AB Pandey was given additional charge days after GSTN's first chairman Navin Kumar completed his term on August 29.