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Ministry of Finance News
Ministry of Finance
Good news! Income Tax offices, Aayakar Seva Kendras to stay open on weekend; here’s how you can file ITR
Wed, Mar 28, 2018
Income tax returns (ITR) filing must always be taken as one of the biggest duties of the citizen, and that it should be followed consistently every year. To ensure last-minute taxpayers are not inconvenienced, I-T dept is working through the weekend.
First sale of electoral bonds via SBI to begin from March 1
Thu, Feb 22, 2018
Finance Minister Arun Jaitley during his Budget speech in February 2017, announced the introduction of the bonds
GST relief for circus, dance and theatrical performances
Wed, Feb 07, 2018
These services earlier attracted GST @ 28%. Requests were received from several quarters that amusement parks promote social wellness and beget fun and learning for children and their families in a real active entertainment and therefore, the rate may be reduced to 18%.
Indian gold demand wanes as jewellers expect import tax cut in budget
Tue, Jan 30, 2018
Gold prices in India, the world`s second-biggest user of the precious metal, were at discounts as jewellers were postponing purchases on the expectation that the government will announce an import tax cut in its annual budget on Thursday.
GST revenue collections rise to Rs 86,700 crore in December; one crore taxpayers registered
Thu, Jan 25, 2018
The Ministry tweeted out that the total revenue collections under GST for the month of December 2017 amounted to Rs 86,703 crore, till 24th January, 2018.
Bitcoin not a legal tender in India, says Finance Minister Arun Jaitley
Tue, Jan 02, 2018
The Finance Minister of India has openly refuted the acceptance of Bitcoin as legal tender in India.
Did RBI consciously stop printing Rs 2000 currency notes?
Thu, Dec 21, 2017
If we look the RBI' annual report data closely, it indicates that the central bank printed heavily Rs 500 denominations but slowed down on Rs 2,000 denominations.
After FinMin, I-T dept, SEBI too tightens noose around Bitcoin
Mon, Dec 18, 2017
The SEBI may come down heavily on illicit 'initial coin offers' seeking public investments with promise of high returns from Bitcoins in the absence of any regulatory regime.
Aadhaar made mandatory for AMC clients from January 2018
Wed, Dec 13, 2017
The submission of Aadhaar details are required only for non-demat transactions on the BSE StAR MF Platform.
Direct tax collections grow over 14% till November to nearly Rs 5 lakh crore
Sat, Dec 09, 2017
Tax collections from the start of the financial year to November 2017 have escalated as against the year ago period.
Govt names Shaktikanta Das as India's G20 Sherpa
Mon, Nov 27, 2017
"Former DEA secretary Shaktikanta Das @DasShaktikanta appointed India's G20 Sherpa till December 31, 2018, for the Development Track of the G20," the Ministry of Finance said in a series of tweets.
GST collections dip in October to Rs 83,346 cr; 95.9 lakh taxpayers registered
Mon, Nov 27, 2017
The Finance Ministry said that the states' revenues have been fully protected taking base year revenue as 2015-16, providing a projected revenue growth rate of 14%.
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