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According to sources in the finance department, the GST collection was not expected to be so high and hence it had asked the Centre for a compensation of Rs 6500 crore.

GST Council may simplify returns filing norms on Thursday

GSTN has launched an initial trial run for e-way bill mechanism in which 10 states have joined.

18 Jan 2018 10:32 AM IST

The e-filing facility for ITR-1, which is to be enabled from April 1, will have an online tax calculator and ITRs can be filed till the stipulated deadline of July 31.

Direct tax mop-up jumps 19 pc to Rs 6.89 lakh cr this fiscal

Collections till January 15, 2018 represent over 70 pc of Rs 9.8 lakh crore revenue target from direct taxes.

17 Jan 2018 5:32 PM IST

Rs 10 coins (Photo: PTI)

All 14 types of Rs 10 coin valid, legal tender: RBI

RBI has also asked banks to accept coins for transactions and exchange at all their branches.

17 Jan 2018 3:27 PM IST

The government has proposed a penal tax rate of 50 per cent to incentivise black money hoarders to switch to formal economy.

Govt lowers additional borrowings to Rs 20,000 crore in FY18

Government has reassessed additional borrowing requirements taking note of revenue receipts and expenditure pattern.

17 Jan 2018 11:18 AM IST

The RBI has always said monetary policy should be accompanied by fiscal policy if the wheels of the economy are to be greased. (Photo: PTI)

Bonds fall after RBI deputy says banks face high interest rate risk

Benchmark 10-year bond yield was at 7.54 per cent, up 10 basis points on the day.

16 Jan 2018 12:39 PM IST

To improve ease of doing business, a new scheme of self-assessment-based duty-free procurement of inputs required for exports has been introduced.

Exports up 12.36 per cent in Dec; trade deficit widens to 3 year high

Exports had totalled USD 274.64 billion in 2016-17, up from USD 262.29 billion in the preceding industry.

16 Jan 2018 10:32 AM IST

The daily change in prices of petrol and diesel across the country follows the success of a pilot implementation in five cities.

Diesel prices at record Rs 61.74 per litre, petrol crosses Rs 71 per...

Petrol price rose to Rs 71.18 per litre in Delhi on Monday, the highest since August 2014.

15 Jan 2018 5:16 PM IST

Indias GDP growth forecast for the current fiscal to 7 per cent from 7.4 per cent.

'Govt may not alter fiscal consolidation targets in budget'

Govt will try to get fiscal deficit number down to 3.4 per cent as against consensus estimate of 3.5 per cent.

15 Jan 2018 4:14 PM IST

WPI inflation, which reflects the annual rate of price rise, has risen for the second straight month, notwithstanding the cash crunch following demonetisation.

WPI inflation eases to 3.58 per cent in December as veggies price...

Inflation for October has been revised upwards to 3.68 per cent from the provisional estimate of 3.59 per cent.

15 Jan 2018 12:46 PM IST

Reserve Bank of India, RBI, is a banking regulator. It also calculates and fixes repo rate. (Photo: AFP)

Govt to invite fresh applications for RBI deputy governor post

Appointment will be made for a period of three years and the person will be eligible for reappointment.

15 Jan 2018 12:19 PM IST

Benefits should reach farmers: FM Arun Jaitley

He underlined that government's priority is to ensure the gains reach the farmers and the growth is visible even in the...

15 Jan 2018 1:24 AM IST

Balanced mutual funds received more than Rs 47,000 crore. (Photo: Representational/PTI)

Commerce Secretary urges policy framework to address export financing...

Availability of finance and export finance is constrained and hampers the competitiveness of India's exports.

13 Jan 2018 12:05 PM IST