PIB, Author at TAX CONCEPT

Ministry of Finance: Notification No. 63/2021-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

PIBJuly 31, 2021July 31, 2021

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied...

INCOME TAX

BREAKING: Income Tax Department conducts searches in Kanpur the business of manufacturing Pan Masala and in real estate

PIBJuly 31, 2021July 31, 2021

The Income Tax Department carried out a search action on 29.07.2021 on a large group based in Kanpur and Delhi. The group is in the business of manufacturing Pan Masala...

MCA/ROC

Total of 320 foreign companies registered in the country during the last three years : Shri Rao Inderjit Singh

PIBJuly 28, 2021July 28, 2021

320 foreign companies registered in India between 2018 and 2021 A total of 320 foreign companies registered in the country during the last three years. This was stated by Union...

MCA/ROC

Government identified 2,38,223 companies as shell companies between 2018-2021

PIBJuly 28, 2021July 28, 2021

There is no definition of the term “Shell Company” in the Companies Act and it normally refers to a company without active business operation or significant assets, which in some...

BUSINESS & ECONOMY

Ministry of Steel: ‘Ease of Doing Business’ in Steel Industry

PIBJuly 28, 2021July 28, 2021

Steel is a de-regulated sector and the role of the Ministry is that of a facilitator to the Steel Industry. Various interventions made for ensuring ‘Ease of doing business’ in...

BUSINESS & ECONOMY

KVIC on Tuesday planted 1000 bamboo saplings at Tanot village in Jaisalmer, in collaboration with the Border Security Force (BSF), Launch Project BOLD in Jaisalmer

PIBJuly 28, 2021July 28, 2021

KVIC & BSF Launch Project BOLD in Jaisalmer to Prevent Desertification and Support Rural Economy

BUSINESS & ECONOMY

Ministry of Finance : Systemic measures by Government under Black Money Act yields results detects undisclosed income of several crores

PIBJuly 27, 2021July 27, 2021

In the recent years, the Government has taken a number of measures to bring back the black money stashed abroad ‘The Black Money (Undisclosed Foreign Income and Assets) and Imposition...

BUSINESS & ECONOMY

Government Steps taken for revival of infrastructure sector on back of COVID-19 pandemic

PIBJuly 21, 2021July 21, 2021

The Government is taking various measures to ease out liquidity and steep increase in commodity prices and its impact on infrastructure on the back of COVID-19 pandemic. This was stated by...

GST

Ministry of Finance has released ₹75,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation

PIBJuly 16, 2021July 16, 2021

Ministry of Finance has released today ₹75,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation. This release is in addition to...

BUSINESS & ECONOMY

India’s Foreign Trade for June 2021

PIBJuly 16, 2021July 16, 2021

India’s overall exports (Merchandise and Services) in June 2021 estimated to be USD 49.85 Billion, exhibiting a positive growth of 31.87 per cent India’s overall exports (Merchandise and Services combined)...

BUSINESS & ECONOMY

Ministry of Electronics & IT enables map services in “UMANG App” Signs MoU with MapmyIndia

PIBJuly 16, 2021July 16, 2021

Ministry of Electronics & Information Technology (MeitY) has taken various initiatives in the recent past to ease the lives of citizens by facilitating online delivery of Government services. To further...

BUSINESS & ECONOMY

India’s engineering goods exports registered a growth of 52.4% during the month of June 2021

PIBJuly 16, 2021July 16, 2021

Merchandise exports in June 2021 were USD 32.50 Billion, as compared to USD 21.91 Billion in June 2020, exhibiting a positive growth of 48.34 per cent. Indian engineering exports were on...

BUSINESS & ECONOMY

Shri Gadkari calls for reduction in the use of steel and cement in road construction through innovation and research without affecting the quality

PIBJuly 10, 2021July 10, 2021

The Union Minister for Road Transport and Highways, Shri Nitin Gadkari has said that the use of steel and cement in road construction should be reduced without affecting the quality...

Cabinet TC VIP Content

Cabinet approves “India COVID 19 Emergency Response and Health Systems Preparedness Package: Phase II” at a cost of Rs 23,123 crore

PIBJuly 9, 2021July 9, 2021

The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi today has approved a new scheme ‘India COVID-19 Emergency Response & Health System Preparedness Package: Phase-II’ amounting to Rs. 23,123...

GST

GST Council Meeting- Change in GST Rates on goods being used in Covid-19 relief and management

PIBJune 12, 2021June 12, 2021

The 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today. The Council in its meeting has decided to...

GST

Press Briefing by Union Finance Minister Nirmala Sitharaman on the outcome of 44th GST council meet

PIBJune 12, 2021June 12, 2021

Live Press Briefing by Union Finance Minister Nirmala Sitharaman on the outcome of 44th GST council meet https://youtu.be/tjIqpxrjPAo

CURRENT AFFAIRS

Union Education Minister approves the release of Performance Grading Index (PGI) 2019-20 for States and Union Territories

PIBJune 6, 2021June 6, 2021

Union Education Minister, Shri Ramesh Pokhriyal ‘Nishank’ approved the release of Performance Grading Index (PGI) 2019-20 for States and Union Territories of India today. The Government has introduced the Performance Grading Index...

NATIONAL NEWS

Memorandum of Cooperation between India and Japan in the field of sustainable urban development gets Cabinet approval

PIBJune 2, 2021

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the signing of Memorandum of Cooperation (MoC) on Sustainable Urban Development between the Ministry of Housing &...

BUSINESS & ECONOMY

Emergency Credit Line Guarantee Scheme expanded for on site oxygen generation

PIBMay 30, 2021May 30, 2021

On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the economy,Government has further enlarged the scope of Emergency Credit...

GST

GST Council Meeting Highlights: Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns, Simplification of Annual Return [Read Other Key Decisions]

PIBMay 29, 2021May 29, 2021

The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing here today. The meeting was also attended by Union Minister...

CURRENT AFFAIRS

Very Severe Cyclonic Storm “Tauktae” (pronounced as Tau’Te) over East central Arabian Sea: Cyclone Warning for Gujarat & Diu coasts (Orange message)

PIBMay 17, 2021May 17, 2021

Cyclonic Storm "Tauktae" very likely reach Gujarat coast in the evening hours of 17th& cross Gujarat coast between Porbandar & Mahuva (Bhavnagar district) during early hours of 18th May as...

BUSINESS & ECONOMY

Government Relaxations provided under Gas Cylinders Rules, 2016

PIBMay 15, 2021May 15, 2021

Relaxations provided under Gas Cylinders Rules, 2016,so as to fast track approvals for imported cylinders, pressure vessels for storage and transportation of medical oxygen. Government of India has reviewed the...

BUSINESS & ECONOMY

PM to release 8th instalment of financial benefit under PM-KISAN on 14th May

PIBMay 13, 2021May 13, 2021

Prime Minister Shri Narendra Modi will release the 8th instalment of financial benefit under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on 14th May at 11 AM via video conferencing....

GST

Ad hoc Exemption from IGST on imports of specified COVID-19 relief material donated from abroad

PIBMay 3, 2021May 5, 2021

As customs duty is already exempt , these imports will not attract any customs duty or IGST In view of the COVID-19 pandemic, the Central Government has issued notifications exempting...

GST

Government announces various relief measures for taxpayers under GST law in view of severe COVID-19 pandemic

PIBMay 2, 2021May 2, 2021

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) law due to the outbreak of the second wave...

CBIC GST

GST Revenue collection for April’ 21 sets new record

PIBMay 1, 2021May 1, 2021

GST Revenue collection for April’ 21 sets new record Rs. 1,41,384 crore gross GST revenue collected The gross GST revenue collected in the month of April’ 2021 is at a...

COVID-19

Prime Minister reviews preparations by Armed Forces to assist in Covid-19 management

PIBApril 26, 2021April 26, 2021

The Chief of Defence Staff General Bipin Rawat today called on the Prime Minister. They reviewed the preparations and operations being undertaken by the Armed Forces to deal with the...

COVID-19

PM holds a high level meeting on oxygen supply and availability

PIBApril 22, 2021April 22, 2021

PM Narendra Modi chaired a high-level meeting to review the oxygen supply across the country and discuss ways and means to boost its availability. The officials briefed him on the...

INCOME TAX

UNEXPLAINED CASH CREDIT – IN DEPTH ANALYSIS OF SECTION 68

PIBNovember 20, 2020November 21, 2020

UNEXPLAINED CASH CREDIT - IN DEPTH ANALYSIS OF SECTION 68 Section 68 of Income Tax Act is one of the debated section which brings huge numbers of litigation and judgements,...