Finance Ministry

ITR filings grow by 25 pc to 2.82 cr, govt says 'demonetisation effect'

Union finance ministry said that the number of ITRs filed showed that substantial number of new tax payers have been brought into the tax net subsequent to demonetisation.

Centre, states to soon announce post-GST product rates: Report

With pressure building up from states, the Goods and Services Tax (GST) Council will soon start publishing rates of various products to prod companies to pass on gains, including those from input tax credit

FinMin gives a thumbs up to RBI rate cut, says step important for sustained growth

The government had been pitching for a rate cut to boost economic growth amid retail inflation falling to a historic low of 1.54 per cent in June

Rs 200 to be issued soon: MoS Finance Santosh Kumar Gangwar

According to media reports, the government has stopped further printing of the recently printed Rs 2,000 notes.

Taxmen can’t visit shopkeeper's premises without authorisation: Govt

The chief commissioner of GST (Delhi zone) has clarified that the tax department only wants to facilitate the process for shopkeepers and traders during the transition to the Goods and Services Tax (GST) regime.

With ‘mini war room’, govt preps up to tackle GST crises

The unit will act as a quick resource centre for central and state government officials to address their queries on the historic tax reform scheduled to be implemented from July 1

Will soon announce names of 12 'mega' defaulters identified by RBI: Finance Ministry

The Finance Ministry today said names of the 12 big defaulters identified by the RBI for initiation of bankruptcy proceedings will soon be made public

Don’t be misled by delay rumours, GST to roll out on July 1: Govt

Putting an end on rumours of a possible deferment of the roll out of the Goods and Services Tax (GST), the government on Tuesday clarified that it will be implemented from July 1

GST Council to examine concerns of traders on rates, says MoS Finance

To a query on suggestions/feedback received from trade and industry, Meghwal said the common concern among representations was related to SSI sector coming under GST net.

RBI cannot always agree with Finance Ministry, says former Governor YV Reddy

"If the RBI always agrees with Finance Ministry, it is superfluous. And if it doesn't, then it is obnoxious. So tensions will have to be accepted," Reddy said.

MPC declined FinMin request for meeting ahead of policy review: Urjit Patel

Asserting its autonomy, the six-member monetary policy committee (MPC) had unanimously declined a meeting with finance ministry officials ahead of the policy review

Deadline to file PMGKY declarations extended to May 10

The government on Friday extended the date for filing declarations by black money holders about tax payment and deposits under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) till May 10, an official statement said.

Ministry of Finance approves 8.65 pc interest rate on EPF for 2016-17

Union Labour Minister Bandaru Dattatreya today said that the Finance Ministry has approved 8.65 per cent interest rate on Employees’ Provident Fund (EPF) for 2016-17.

Finance Ministry may seek relaxation of public float deadline for PSBs

Govt slashes small saving schemes interest rates by 0.1 per cent

For April-June, these have been lowered by 0.1 per cent across the board compared to January-March. However, interest on savings deposits has been retained at 4 per cent annually.

No discussion on extending GST roll-out beyond July 1: FinMin

The government is not thinking of extending the roll-out date of the Goods and Services Tax (GST) beyond July 1, and businesses and traders must ensure preparedness by then, the Finance Ministry said on Thursday.

CBEC to be renamed, reorganised for GST regime

The Central Board of Excise and Customs (CBEC) will be reorganised for the implementation of the Goods and Services Tax (GST) system and renamed the Central Board of Indirect Taxes and Customs (CBIC) following parliamentary approval.

GST to come into effect from July 1: Shaktikanta Das

The Goods and Services Tax (GST) will be implemented from July 1 as all states have agreed on the implementation date, Economic Affairs Secretary Shaktikanta Das said on Tuesday.

‘India takes issue of loan defaulters very seriously’, says Arun Jaitley

India takes the issue of defaulters very seriously, Finance Minister Arun Jaitley has said, indicating that he may raise the matter of liquor baron Vijay Mallya with his British counterpart.

IT-dept to go easy for the on deposit of up to Rs. 5 lakh by those over 70 years

The tax department clarified that the people above 70 years of age will be exempted from the process of verification post note ban, but the limit has been fixed at Rs. 2.5 lakh for other