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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.

Govt relaxes norms for rectification of returns under GST

GSTR-3B, initial summarised return, has to be filed by businesses by 20th day of every month.

1 Jan 2018 4:22 PM IST

Union Road Transport and Shipping Minister Nitin Gadkari. (Photo: PTI)

India to have 10,000 seaplanes; e-highways on anvil: Gadkari

Ministry also plans to train about 3.5 lakh workers under the skill development programme for highways.

1 Jan 2018 10:52 AM IST

Union Finance Minister Arun Jaitley addressing media after the 22nd meeting of the Goods and Services Tax (GST) Council, in New Delhi. (Photo: PTI)

12, 18 per cent GST rates to be merged; luxury items in 28 per cent...

Merging of 12 and 18 per cent slab mean some items in 12 per cent bracket will be sent to 5 per cent.

30 Nov 2017 6:48 PM IST

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

India's GDP growth breaks five-quarter slide, jumps to 6.3 per cent in...

Government figures showed Asia's third-largest economy expanded for the first time in five quarters.

30 Nov 2017 5:51 PM IST

A day after Union Finance Minister Arun Jaitley claimed that demonetisation has left Maoists and separatists in Jammu and Kashmir fund-starved, the Congress party on Monday said the he should validate his claims. (Photo: PTI)

Intend to move on track on fiscal deficit glide path: Jaitley

Government has budgeted to bring down fiscal deficit to 3.2 per cent of GDP in 2017-18.

30 Nov 2017 5:40 PM IST

Construction sector is major contributor to GDP growth. (Photo: PTI)

India's infrastructure output grows 4.7 pc in October

Growth in output compares with a downwardly revised 4.7 per cent year-on-year growth in September.

30 Nov 2017 5:35 PM IST

Union minister P P Chaudhary.

CSR spending rose to Rs 9,882 crore in 2015-16: Chaudhary

CSR expenditure of companies for year 2015-16 from annual financial statements filed with govt.

30 Nov 2017 5:29 PM IST

Digital India to create Internet access to all: Manoj Sinha

Since January 1, 2017, more than 26.7 billion digital transactions have been completed in India.

30 Nov 2017 4:40 PM IST

Fitch estimates that the banking sector will require around USD 90 billion in new total capital by 2018-19 fiscal to meet Basel-III standards and ongoing business needs.

Fitch may revise banks' rating if recapitalisation done early

Govt had announced a Rs 2.11 trillion capital infusion for public sector banks over next two years.

30 Nov 2017 4:23 PM IST

Union Finance Minister Arun Jaitley addressing media after the 22nd meeting of the Goods and Services Tax (GST) Council, in New Delhi. (Photo: PTI)

India has standardised itself for 7-8 per cent growth: Jaitley

India is getting closer to a situation where the country can spend what it earns, and borrows relatively less, he said.

30 Nov 2017 3:40 PM IST

Union Minister for Finance and Corporate Affairs Arun Jaitley (Photo: PTI)

Jaitley hints at further rationalisation of GST rates

Jaitley said GST started with different tax rates and they have rationalised rates on many items.

30 Nov 2017 3:39 PM IST

For FY 18, the fiscal deficit target was supposed to be 3 per cent but it may choose the upper band of 3.5 percent in the Union Budget.

Fiscal deficit hits 96 per cent of India's total budget estimate in...

India's fiscal deficit at the end of October hit 96.1 per cent of the budget estimate for 2017- 18. (Photo:...

30 Nov 2017 3:27 PM IST