Taxes
GST slashed on COVID-19, black fungus medicines; 5% tax retained on vaccines
The reduced tax rates were based on a recommendation of a group of ministers, headed by Meghalaya Deputy Chief Minister Conrad Sangma
Telecom operators' buck COVID-19 slowdown, reports strong revenue: Fitch
Data traffic surged by 20 to 30 per cent as the lockdown increased demand for data connectivity
There is a need to review high levies in telecom sector, says Sunil Mittal
Government should not view the sector as source for exchequer, but instead as a force multiplier for ensuring economic momentum, Mittal said
I-T department refunds ₹62,000 crore to 20 lakh taxpayers
The income tax department has issued tax refunds at a speed of 76 cases per minute from April 8 to June 30, 2020
India plans to hike edible oil import taxes to boost local supply
India currently levies 37.5% and 45% import tax respectively on crude and refined palm oil
Apple says USD14 billion EU tax order 'defies reality and common sense'
The European Union’s order to Apple to pay EUR 13 billion (USD14 billion) in back taxes ‘defies reality and common sense’, the US firm said
Report shows US deficit to exceed USD 1 trillion next year
Federal debt, which is already high by historical standards, is on an unsustainable course, said Phillip Swagel of CBO.
GST officers prodding businesses to deposit taxes by March 31 to meet fiscal target
The practice of prodding assessees to pay taxes by March end was also prevalent during erstwhile excise and service tax regime.
Ireland recovers disputed Apple taxes in full ahead of appeal
The European Commission ruled in August 2016 that Apple had received unfair tax incentives.
Looking at ways to ensure timely refund of taxes: Finance Ministry
Committee is trying to find a way of giving refund by linking GSTR 1 with GSTR 3B forms.