Permanent Court of Arbitration in The Hague said Cairn Energy's India business reorganisation in 2006 before its listing on stock exchanges was not \"unlawful tax avoidance\"; ordering Indian tax authorities to drop tax demand

The government has reportedly challenged the international tribunal's September verdict that ruled in favour of Vodafone Group Plc in the Rs 22,100-crore tax dispute case

Slamming the DDCA's decision to install a statue of Arun Jaitley at the Feroz Shah Kotla ground, Bedi has asked the body to remove his name from spectators' stand of the stadium. The stand was named after the former spinner in 2017

While government claims on tax compliance and GST collections paint a healthier picture of the economy, tax-to-GDP has fallen for two consecutive years and tax collections across the board in the first half of FY21 are nowhere close to FY20, indicating that trouble is far from over

If the arbitration award in the Cairn cases goes against India, the government has to pay the British firm over Rs 7,600 crore to reverse the dividend and tax refund it had ceased and shares it sold to recover part of the tax demand

Union Budget 2021: The Finance Minister Nirmala Sitharaman faces daunting task to cope with coronavirus economic fallout and address critical issues pertaining to growth contraction and subdued revenue collection triggered by the pandemic

Finance Minister Sitharaman had a different personality, knowledge endowment, skill-set and approach for economic policy issues, he says. Garg mentions that it became quite clear to him early on that working with her would be difficult

Nirmala Sitharaman says GST compensation will have to be paid from compensation cess kitty only; states are staring at GST revenue shortfall of around Rs 2.35 lakh crore, of which Rs 97,000 crore is believed to on account of GST compensation

Calling it an attempt to \"undermine federalism\", Mamata said it was a travesty and an abrogation of the fundamental basis on which the states gave up 70 per cent of their taxing powers to usher the GST regime

Gross mismanagement of the economy, starting with demonetisation in November 2016 and continued with untimely, unplanned and sudden nation-wide lockdown has compounded the GST problem. Centre's refusal to pay compensation to states now may derail it completely

Centre had recently informed the parliamentary standing committee on finance that it does not have enough funds to pay the 14 per cent GST compensation that it is statutorily mandated to pay to states

In a series of tweets, the ministry said before goods and services tax (GST), the combination of value-added tax (VAT), excise, sales tax and their cascading effect resulted in high standard rate of tax up to 31 per cent

Not only Prime Minister Modi, BJP stalwarts such as Amit Shah, Ravi Shankar Prasad, Hardeep Singh Puri also paid tributes to late Finance Minister Arun Jaitley

Gandhi says RBI governor resigned in just over two years as Prime Minister Narendra Modi didn't want him to go after wilful defaulters

Merger plan, envisaged by late former finance minister Arun Jaitley, has been dropped for now and the Centre now wants to make these companies profitable

Wide gaps in corporate and non-corporate direct tax collections are known for years and a huge number of tax evaders are routinely identified every year by the tax authorities but lack of effective follow-up action ensures that the status quo is maintained

The former bureaucrat said that Indian telecom is headed towards becoming a duopoly (Reliance Jio and Bharti Airtel) with the remaining two players- Vodafone Idea and BSNL-MTNL - hurtling towards eventual shutdown

The decision has been taken in the light of the critical financial position and breach of regulatory solvency requirements of these three public sector general insurance companies

The government expects to raise Rs 90,000 crore through sale of stakes in state-owned life insurance company LIC and IDBI Bank

Sitharaman also said the government was strengthening provisions related to safeguard and anti-dumping duties. These measures permitted under WTO guidelines are imposed in cases when a surge in imports in specific instances is reported from member countries