Tax revenue is the income collected by the government from individuals and businesses. It funds public services and infrastructure. This revenue is crucial for economic stability. It supports education, healthcare, and welfare programmes. In India, tax revenue is governed by laws and regulations. The Constitution outlines the powers of taxation. Effective tax collection is vital for national development and growth.
The Goods and Services Tax (GST) implementation in 2017 aimed at streamlining India's complex indirect tax structure through a unified market. Despite initial hiccups, GST collection has strengthened...
The recent 40th Goods and Services Tax (GST) Council meeting brought forth significant points of discussion. In this article, we outline the critical outcomes. Current Status of GST...
The Central Board of Direct Taxes (CBDT) has reported a nearly 5% drop in gross direct tax collections for the financial year (FY) 2019-20, compared to the previous...
In recent news, the United States Trade Representative (USTR) has begun investigations into taxes being considered or already implemented by 10 countries, including India. These taxes apply to...
As per the estimates from India Ratings and Research, a well-known credit rating agency, the lockdown imposed in response to the COVID-19 pandemic has led to a staggering...
In the wake of the economic downturn caused by the Covid-19 pandemic, the government reported a decline in tax collections. In addition, foreign investors sold over ₹1 lakh-crore...
The recent G20 meeting, held in Riyadh, was attended by ministers and central bankers from the world's most influential economies. The 2020 meeting marked a first for Saudi...
The Union Cabinet's recent approval of an amendment to the 'Direct Tax Vivad se Vishwas Bill, 2020' is a significant development. The amendment has expanded the scope of...
The latest gathering of the GST Council, aptly labelled as its 38th meeting, resulted in an unprecedented voting scenario. The focus was on a proposal to standardize all...
