In a recent interaction, revenue secretary Ajay Bhushan Pandey had told BusinessToday.In that India is not taxing any transaction outside India, but if any transaction has happened within India, they can be taxed by Indian parliament

The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020

According to Finance Secretary Ajay Pandey, the officials were able to arrest tax evaders because of the data taken from agencies like Income Tax Department, Customs unit, FIU and GST department, and banks

The revenue department has already started sharing such information among its wings - direct tax, indirect tax and customs departments

Finance Secretary Ajay Bhushan Pandey said there has to be a \"reasonable level\" of borrowing because if a balanced approach is not taken then interest burden will increase which would impact the economy

Finance Secretary Ajay Bhushan Pandey said the generation of e-way bills has gone up 21 per cent in October, while the number of e-invoice generation has touched 29 lakh IRNs a day

According to finance ministry sources, so far 69.5 lakh IRNs have been generated by 71,000 users in the first seven days. On the very first day, more than 8.40 lakh IRNs were generated

GST Council meet: Finance Minister Nirmala Sitharaman on Monday said that this year's collection of Rs 20,000 crore as compensation cess will be disbursed to states tonight

The finance secretary said that some major industrial states have shown very positive growth percentage in GST collection which is indicative of the process of economic recovery being on track

The government will levy 5 per cent tax on foreign remittances, subject to riders, starting October 1

ICRA estimates that the overall SGST collection during the year would fall by 21 per cent to Rs 4.01 lakh crore compared to Rs 5.06 lakh crore last year; compensation requirement this year could be Rs 3.63 lakh crore

Finance Minister Nirmala Sitharaman said the states have asked the Centre to provide full details of the two options by tomorrow and they will get back with their decisions in 7 days

Shortfall in collection of goods and services tax (GST) stands at Rs 2.35 lakh crore for fiscal 2021, the government said on Thursday

GST Meeting News Updates: Meeting was attended by MOS Anurag Thakur, besides finance ministers of states and UTs and senior officers from Union government and states

The Finance Secretary, sources said, retorted that the GST Act was built with provisions to rework the formula for compensation to states if the revenue collection dropped below a certain level

Union minister assures industry of all possible government help amid coronavirus crisis; seeks recommendations related to her ministry or SEBI deadlines so necessary steps can be taken

Sitharaman Speech Live Updates on Economic Package: With an eye on further enhancement of Ease of Doing Business Government announces suspension of fresh initiation of insolvency proceedings up to one year

The government has decided to reduce the rates of Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) by 25 per cent of their existing rates as part of the stimulus package

Ministry of Finance's Revenue Department issued a circular with an opt-out clause, instead of making it voluntary

Badal describes CCL debt account of Rs 31,000 crore, inherited from previous SAD-BJP government, as a body blow to the state