The government has reported a rise in direct tax collections and foreign investment inflows following corporate tax rate reductions, effective from AY 2020-21 (except the pandemic-affected FY 2020-21) ...

Government of India provided details on GST collections over the past five financial years, showing a steady increase in revenue from both domestic sources and imports. However, it does not maintain ...

Between July 2017 and December 2024, 1,386 cases of GST evasion were recorded in Punjab, involving approximately ₹6,454 crore. Authorities arrested 72 individuals linked to thes ...

Corporate tax collections in India, as a percentage of GDP, have varied over the past five years, starting at 2.8% in FY 2019-20 and reaching a provisional 3.1% in FY 2023-24. Collections dropped to 2 ...

Ministry of Finance addressed revenue loss and benefits related to tax incentives for corporates. From Assessment Year (AY) 2020-21 to AY 2024-25, companies claimed various income tax exemptions and ...

Ministry of Finance addressed refund settlements for Income Tax Returns (ITRs) filed for Assessment Year 2024-25. Of the 3.98 crore ITRs claiming refunds, 3.94 crore were verified by taxpayers, making ...

Government of India has reaffirmed that drilling borewells for agricultural purposes remains exempt from GST. This exemption was carried over from the Service Tax regime, where su ...

Ministry of Corporate Affairs (MCA) reported 80.26 lakh form filings on the MCA21 platform from April 2024 to January 2025, up from 73.29 lakh during the same period last year. Of these, 53.08 lakh ...

MCA imposes Penalty for Section 10A Violation (Delay in filing INC-20A form) MINISTRY OF CORPORATE AFFAIRS THE REGISTRAR OF COMPANIES, TELANGANA, HYDERABAD 2nd FLOOR, CORPORATE BHAWAN, BANDLAGUDA, ...

Insolvency and Bankruptcy Board of India 4th February, 2025 This discussion paper has been prepared to address various operational challenges encountered in the Corporate Insolvency Resolution Process ...

It has been decided to permit the Bullion Exchange in the IFSC to introduce one or more liquidity enhancement schemes (LES) to enhance liquidity of illiquid commodity derivatives contracts. a. The ...

It may be noted that GST rate on hotel accommodation depends on the amount paid per room accommodation per day. Presently from 18.7.2022 onwards, GST is 12% for a room in a hotel which would cost upto ...