The GST Council is likely to approve a two-year extension of the compensation cess levy on goods and services to allow the Centre to pay the entire shortfall in GST tax collection by states expected till June 2022.
The government has assured income tax officials that implementation of the new faceless and contactless tax administration would not cause any large-scale movement of officers or officials and all the changes would be done within the existing manpower preferably at the existing locations.
The gross advance tax collection fell 31 per cent in the first quarter. Advance corporate tax mop-up declined 79 per cent in the same period, PTI reports quoting an income tax official.
The government has collected over Rs 7.52 lakh crore as direct taxes till January 31 of the current fiscal, Parliament was informed on Tuesday. The Revised Estimate (RE) has pegged the target for collection of direct taxes for the current fiscal, which ends on March 31, at Rs 11.70 lakh crore.
It is after a long gap that the tax collection is actually lower than the numbers given in the previous year. Already the development has rung the alarm bells that current economic crisis may be deep-seated and take much longer time to recover from.
The chief minister termed the hike in revenue collection a healthy sign of economic growth of the state. Shimla and Baddi revenue districts have emerged as best performing regions, showing an increase of Rs 85 crore and Rs 111 crore, respectively, he added.
Sitharaman clarified that the objective to reduce corporate tax is only to attract investment, stimulate growth and also to create job opportunities.
Private vehicles were exempted from paying toll tax on state highways in April last year in Rajasthan, but the Congress government in the state decided to reverse the decision for maintenance and repairing of roads
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