President Donald Trump has announced to establish the External Revenue Service to "tariff and tax foreign countries" instead of taxing US citizens.
India's fiscal deficit is expected to shrink further, on the back of growing tax revenues, according to a World Bank report.
Justin Trudeau’s resignation as Canada’s Prime Minister marks the close of an era that began with immense hope but ended amid growing challenges and dissatisfaction.
During its 55th meeting, the GST Council clarified that tax treatment for popcorn would depend on its flavour and the way it was sold; while popcorn sold loose will be taxed at 5 per cent, GST on popcorn will incre a se to 12 per cent if it was sold in packets under a brand name, while caramelised popcorn would be taxed at 18 per cent.
The year 2024 saw the Central Board of Direct Taxes (CBDT) prioritising the speedy processing of returns and refunds, with over Rs 2.35 lakh crore refunded and more than 3.87 crore Income Tax Returns (ITRs) processed within 7 days.
The Board of Directors of Life Insurance Corporation of India (LIC) has approved and adopted the standalone and consolidated financial results for the six months ending 30 September.
In a bid to enable states to boost development and capital spending, the Centre on Thursday said it has released tax devolution of Rs 1,78,173 crore to state governments, as against the normal monthly devolution of Rs 89,086.50 crore.
Ahead of the festive season, the Union Government has released Rs 1,78,173 crore to state governments as tax devolution on October 10.
The local truck owners association has urged the police administration to reconsider its decision to prohibit the entry of commercial vehicles on the national highway in Birbhum district for thirteen consecutive days, beginning today, due to the upcoming Durga Puja festivals.
With GST 2.0, the long-standing demands of the industries like tax simplification can also be resolved.
