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FM Held Meeting With ICAI Delegation To Discuss Ongoing Investigations By CGST Gurugram

Smt Nirmala Sitharaman held a meeting with ICAI delegation, led by VP Shri Aniket Sunil Talati. The MoF had invited the ICAI on Saturday to discuss various issues...

Pawan Hans Disinvestment: Govt Approves Rs 211 Cr Bid Of Star9 Mobility

Cabinet Committee on Economic Affairs has approved the highest bid of M/s Star9 Mobility Private Ltd for sale of the entire Government shareholding (51% of shareholding) of Pawan Hans Limited (PHL) an...

GST Compensation of Rs 7.35 Lakh Crore Released To States For FY22: Finance Ministry

GST compensation of Rs 7.35 lakh crore has been released to States till now and currently, only for the year 2021-22, compensation of Rs 78,704 crore is pending due to inadequate funds....

Government focusing on Sustained economic recovery: FM Sitharaman

The Finance Minister said that given the importance of a sustained recovery, the Budget lays priority on a revival of the economy. Read more...

Various steps taken by the government under “Minimum Government – Maximum Governance”

Information of various steps taken by the government under Minimum Government – Maximum Governance was given by the Minister of State in the Ministry of Commerce and Industry in the Lok Sabha....

Provide GST and TCS concession for the outbound tour operators; OTOAI requests finance ministry

The Outbound Tour Operators Association of India (OTOAI) has written to the Union Finance Minister Nirmala Sitharaman, ahead of Budget 2022, requesting certain relief measures and concessions for the ...

Centre released Revenue Deficit Grant of Rs 9,871 crore to 17 States

The Department of Expenditure, Ministry of Finance, today released monthly Post Devolution Revenue Deficit (PDRD) Grant of Rs 9871 crore to 17 States...

Evasion of Customs duty of Rs 653 crore by Xiaomi India

After an investigation by DRI, three show-cause notices have been issued to Xiaomi India for demand and recovery of duty amounting to Rs 653 crore...

Calendar for auction of GOI treasury bills for quarter ending March 2022

the Government of India, in consultation with RBI, has decided to notify the amounts for the issuance of Treasury Bills for the quarter ending March 2022...

Finance Minister Smt. Nirmala Sitharaman chairs Pre-Budget consultation with Finance Ministers of States

Smt. Nirmala Sitharaman chaired the pre-budget consultations with the Finance Ministers of States and Union Territories (with Legislature) for Union Budget 2022-23...

MCA and Financial Intelligence Unit-India sign MoU for data exchange between the two organisations

A formal MOU was signed between the Ministry of Corporate Affairs (MCA) and Financial Intelligence Unit-India, Ministry of Finance for data exchange...

FM Nirmala Sitharaman will start Pre-Budget consultations with stakeholders from 15th Dec 2021

Finance Minister will start Pre-Budget consultations with different stakeholder Groups Dec 15, 2021 in New Delhi in connection with the forthcoming General Budget 2022-23...

More than 3 crore Income Tax returns filed on new e-Filing portal - Finance Ministry

More than 3 crore Income Tax Returns have now been filed on the new e-Filing portal. The number of ITRs filed is 4 lakh per day and increasing every day as the extended due date of 31st December 2021...

This is the right time to increase exports - MoS Finance Bhagwat Karad

Dr. Karad informed that merchandise exports in the first 8 months of 2021-22 have touched US$ 233 billion registering 54% growth over the previous year....

Shri Yogi Adityanath and Smt Nirmala Sitharaman inaugurate new Income Tax office ‘Pratyaksh Kar Bhawan' at Lucknow

The Income Tax Department new Office at Lucknow was inaugurated by Chief Minister of Uttar Pradesh Shri Yogi Aditya Nath and Union Finance& Corporate Affairs Minister Smt Nirmala Sitharaman...

DRI intercepts 2 passengers with illicit foreign currency of Rs 3.7 crore at Mumbai airport

DRI officers intercepted these two passengers at the Chhatrapati Shivaji Maharaj International Airport, Mumbai, in the early hours of 26th November, 2021...

FM suggests one-time special “Corona Response Award” for outstanding performance of Customs officials in fighting COVID-19 pandemic

FM participated as the Chief Guest of the Investiture Ceremony for conferment of Presidential Award of Appreciation Certificates for Specially Distinguished Record of Service to the officers...

DRI seizes of 85.535 kg gold, apprehends 4 foreign nationals in Operation “Molten Metal”

In an intelligence operation by DRI, several Indian and foreign (Chinese, Taiwanese, and South-Korean) nationals suspected to be indulging in smuggling gold ...

Centre releases Rs 17,000 crore as GST Compensation to States/UTs

The Central Government has released GST Compensation of Rs. 17,000 crore to States today. Details of GST compensation released State-wise....

DRI seizes 155 kgs of Hashish

Directorate of Revenue Intelligence (DRI) in two different cases in October, 2021 have seized 155 kg of Hashish which had been smuggled into India from Nepal...

Income Tax Department conducts searches in Tamil Nadu

The search action has resulted in seizure of unaccounted cash of Rs. 3.3 crore and detection of unaccounted income exceeding Rs. 300 crore....

GST collection for September 2021

Ministry of Finance has released the statistics of Goods and Services Tax (GST) revenue collection for the month of September 2021....

FAQs on Govt guarantee to back Security Receipts issued by NARCL for acquiring stressed loan assets

Frequently asked questions explaining the various aspects regarding Central Government guarantee to back Security Receipts issued by National Asset Reconstruction Company Limited...

BRICS Meeting on Tax Matters held virtually under Chairship of India

The Heads of Tax Authorities of the BRICS countries held a virtual meeting here today under the Chairship of India.Shri Tarun Bajaj, Secretary, Revenue, Government of India...

CBDT issues clarification on carry forward of losses in case of change in shareholding

CBDT issues clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment. Read more...

Due dates for filing of Income Tax Returns and various audit reports for AY 2021-22 extended

Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22. ...

CBDT allows taxpayers an opportunity to file application for settlement

t has been decided that applications for settlement can be filed by the taxpayers by 30th September, 2021 before the Interim Board subject to certain conditions......

45th GST Council Meeting will be held on 17th Sep at Lucknow

Finance Ministry has announced that FM Nirmala Sitharaman will chair the 45th meeting of the GST Council on 17th September at Lucknow....

Income Tax raid in Delhi & Gujarat, detected bogus Unsecured Loans of Rs 380 crore

The Income Tax Department carried out a search and seizure operation on 01.09.2021 on a manufacturer and distributor of synthetic yarns and polyester chips having corporate office in Delhi...

Monthly Review of Accounts of Government of India for FY 2021-22 (up to July 2021)

The Monthly Account of the Union Government of India upto the month of July, 2021 has been consolidated and reports published. The highlights are given here...

GST collection for August 2021

The gross GST revenue collected in the month of August 2021 is ₹ 1,12,020 crore. The revenues for the month of August 2021 are 30% higher than the GST revenues in the same month last year....

Grant-in-aid amounting to Rs 13,385.70 crore released to Rural Local Bodies

The Department of Expenditure, Ministry of Finance has on Monday released an amount of Rs. 13,385.70 crore to 25 States for providing grants to the Rural Local Bodies...

Due date of payment without any additional amount under Vivad se Vishwas Act extended

Considering the difficulties being faced in issuing and amending Form no 3 under Vivad se Vishwas Act, CBDT decides to extend the last date of payment of the amount (without any additional amount) to ...

IT Dept raids Visakhapatnam based group

IT Department has carried out searches at 17 different premises linked to a Visakhapatnam-based group and detected undisclosed transactions worth Rs 40 Crore....

FM chairs 2nd BRICS Finance Ministers and Central Bank Governors Meeting

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman virtually chaired the second meeting of BRICS Finance Ministers and Central Bank Governors (FMCBG) along with Governor Reserve Ba...

Cabinet approves FDI proposal for an investment of up to Rs 15,000 crore in M/s Anchorage Infrastructure Investments Holding Ltd

The Cabinet Committee of Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the FDI proposal for an investment of upto ₹15,000 crore in M/s Anchorage Infrastructure Inv...

Bank Employees Family Pension to be increased to 30% of last pay drawn

The Government has approved the Indian Banks' Association’s (IBA) proposal to increase the family pension to 30% of last salary drawn....

FM to Infosys: Issues on the Income Tax website should be resolved by 15th September 2021

Smt. Nirmala Sitharaman took a meeting with Mr. Salil Parekh, MD & CEO, Infosys here today afternoon to convey the disappointment and concerns of the Government and the taxpayers about the continuing ...

Exchange Rate Notification No.68/2021 - Customs (N.T.)

Exchange Rate Notification No.68/2021-Customs determines the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed...

Parliament winter session: Live updates from Finance Ministry

Parliament winter session: Live updates from Finance Ministry...

Pilot Launch of International Bullion Exchange

The International Bullion Exchange shall be the “Gateway for Bullion Imports into India”, wherein all the bullion imports for domestic consumption shall be channelized through the exchange...

De-notification of ICDs or CFSs or AFSs

Providing relief to custodians of Inland Container Depots (ICDs) and Container Freight Stations (CFSs), the CBIC streamlined the procedure of closure of these facilities...

Finance Ministry releases Revenue Deficit Grant of Rs 9,871 crore to 17 States

State-wise details of the grant released this month and total amount of PDRD Grant released to the States in 2021-22 is annexed....

Vivad Se Vishwas scheme: Government settled disputed tax of Rs 99,756 crore

The scheme Vivad Se Vishwas is a voluntary scheme for resolving pending direct tax disputes amicably with the taxpayers no targets were fixed by the Government...

Digital payments surge from 1459.02 crore to 4371.18 crore in 3 years

On digital payment ecosystem, the Minister stated that the total volumes of digital payments have also increased from 1459.02 crore in FY 2017-18 to 4371.18 crore in FY 2020-21 ...

Everything about e-RUPI (new digital payment instrument)

e-RUPI is basically a digital voucher which a beneficiary gets on his phone in the form of an SMS or QR code. it is a pre-paid voucher which can be redeemed at any centre...

Finance ministry released a grant of Rs 685.80 crore  to Urban Local Bodies

Grants for Urban Local Bodies have been released as per the recommendations of the 15th Finance Commission. The States are required to transfer the grants to the ULBs within 10 working days...

Exchange Rate Notification No.65/2021 - Customs (N.T.)

Notification No.59/2021-Customs (N.T.) - The rate of exchange of conversion of each of the foreign currencies effective from 6th August, 2021...

Finance Ministry released 75K crore to States as GST Compensation shortfall

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...

Dr Bhagwat Kishanrao Karad takes charge as Minister of State in the Ministry of Finance

Dr Karad is a first time member of the Rajya Sabha. Active in public service, he has served as Mayor of Aurangabad Municipal Corporation...

FM Nirmala Sitaraman introduced new credit guarantee scheme for MFIs

FM Nirmala Sitaraman introduced new credit guarantee scheme for MFIs...

New Income Tax portal issues: FM officials to hold meeting with Infosys on 22nd June

The new income tax website has upset taxpayers with several technical glitches. Finance Ministry will hold an interactive meeting with Infosys on 22nd June 2021...