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Revenue Department News
Enforcement actions always irrespective of political affiliation: Revenue Dept to EC
Tue, Apr 09, 2019
The Revenue Department on Monday told the Election Commission that its enforcement actions are always "neutral', "impartial' and "non-discriminatory" irrespective of political affiliation and urged the poll panel to share "specific information" with the I-T department about illicit money in electoral process, sources said.
Govt recovered less than 9% service tax arrears in FY17: CAG
Tue, Dec 19, 2017
"It can be seen that only 8.87% of recoverable arrears could be recovered by the department during 2016-17. Given the significant amounts of arrears to be recovered, it is essential that the tax department specifically focuses on legacy issues even after transition to GST," said the CAG report.
PAN not needed for cash sale of agri produce up to Rs 2 lakh per day
Fri, Nov 03, 2017
The Central Board of Direct Taxes (CBDT) said in response to representations from stakeholders regarding applicability of provisions of Income-tax Act, 1961 to cash sale of agricultural produce by the cultivators/ agriculturists.
CBEC seeks exporters' feedback on drawback rates post GST
Sun, Feb 26, 2017
"In order to ensure smooth transition to GST framework, the Drawback Committee is to formulate and recommend revised All Industry Rates (AIRs) of drawback on rebate to be implemented for exports in the context of new GST environment," it said.
Finance Ministry lowers taxes for corporates, small businesses to boost growth, employment
Mon, May 09, 2016
The steps that will be taken include lowering of corporate tax to 25% for new manufacturing companies, extending tax benefits to housing sector and reducing technical service fees among others.