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Latest Articles in finance ministry

GST Collections At Rs 92,150 Crore In September

GST collections for the maiden month of July were over Rs 95,000 crore, while for August the figure was over Rs 91,000 crore

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Finance Ministry Drops Rs 8,700 Crore Funding To IITs

While each of the top seven premier technological institutes were supposed to use Rs 1,250 crore each over a period of five years, the rejection of this scheme comes as quite a setback to these institutions

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MSME Approaches Finance Ministry To Exempt Khadi From GST

At present only Khadi yarn produced in the sector is exempted, while other Khadi products attract a 5 per cent Goods and Services Tax (GST) levy

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Direct Tax Collection Saw 19% Hike: Finance Ministry

Collections of direct taxes, which are made up of personal and corporate taxes, soared to Rs 1.90 lakh crore in April-July, an official statement said

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Government To Push Banking Regulation Bill In Monsoon Session

The Department of Financial Services (DFS) is preparing a draft Bill in this regard and will shortly approach the Cabinet for its nod, a government official said.

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NSE Trading Fiasco: Finance Ministry Seeks Report From Sebi

The finance ministry today sought a report from Sebi on the technical glitch in the National Stock Exchange's system that had led to trading disruptions

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RBI Leaves Key Rate Unchanged; Easing Warranted, Fumes Govt

Reserve Bank Governor Urjit Patel-led Monetary Policy Committee, in a slightly less hawkish policy statement, said it was not cutting interest rates as it wanted to be more sure that inflation will stay subdued.

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Abolished Various Cesses Via Budgets Paving Way For GST: Govt

The Finance Ministry said it has gradually abolished various cesses on goods and services in the last three Budgets, and 13 more through the Taxation Laws Amendment Act 2017, in the run up to the July 1 rollout of GST

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GST To Ease Tax Rates On Medicaments, Smart Phones, Medical Devices

The present total tax incidence on smart phones works out to more than 13.5%. As against this, the proposed GST rate for smart phones is 12%.

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Will The GST Rate Of Over 28% Give A Boost To Car Sales?

The finance ministry has finally announced a uniform rate on 1,211 items that will be levied from 1 July 2017 under the goods and services tax bill. But before the simplified taxation system arrives, BW Businessworld did a deep-dive study to discern whether the rates are actually industry-friendly and will go a long way in giving a fillip to sales

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I Voluntarily Gave Up Rail Budget, Says Suresh Prabhu

Railways Minister Suresh Prabhu on Wednesday said he himself had volunteered for clubbing of railways budget with the General Budget, and it was "not a take over" by the Finance Ministry

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EPFO To Provide 8.65% Interest On EPF For FY'17, Says Labour Minister Dattatreya

About 4 crore subscribers of EPFO will get 8.65 per cent interest on provident fund deposits for 2016-17, as decided by the organisation's trustees in December, Labour Minister Bandaru Dattatreya said

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Govt Exceeds FY17 Tax Collection Target At Rs 17.10 Lakh Crore

The government has exceeded the tax collection estimates for 2016-17 fiscal at Rs 17.10 lakh crore. The revised estimates provided in Budget on February 1 had projected tax collections of Rs 16.97 lakh crore

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