As many as 44 shareholders of Flipkart, including significant ones like SoftBank, Naspers, venture fund Accel Partners and eBay, had sold their holdings to Walmart.

The revenue department has instructed its field formations to collect safeguard duty on imported solar cells, withdrawing its earlier direction issued a month ago regarding suspension of the levy.

The government is determined to keep fiscal deficit at 3.3 per cent of GDP on the back of buoyant tax revenues and expectations of surpassing the disinvestment target.

The proposals floated by the DoT reportedly include combining all telecom levies into one charge, on the lines of the GST that subsumed indirect taxes. Most of the disputes relate to multiple levies under different heads such as licence fees, spectrum usage charges and one-time spectrum fee

Now details such as sales, purchases and input tax credit (ITC) benefits given to them in FY18 have to be provided in a consolidated manner, which would make it easier for the tax authorities to match invoices.

Vanaja Sarna successfully oversaw the biggest tax overhaul in the country.

As per the provisions of the I-T law, Walmart has to deduct withholding tax on payments made to sellers and deposit it with the Indian authorities on the seventh day of the subsequent month, which falls on September 7.

Such analysis was not possible before as the government did not have the data organised in a manner that could allow such comparisons.

Finance Minister Piyush Goyal on Thursday said the capacity to slash the GST rates on more items would go up as Goods and Services Tax (GST) revenues and the compliance rate increases and the economy formalises.

The Walmart-Flipkart deal is expected to help the government rake in up to Rs 13,700 crore.

Whatever be the source of tax - whether an MNC, a local homegrown company or an individual, the pivot for any successful tax compliance and collection is ensuring a sound set of data and an insight into the taxpayers' journey.

Last month, the government had doubled import duty on over 50 textile products - including jackets, suits and carpets - to 20 per cent, a move that was aimed at promoting domestic manufacturing.

The GST Council on Saturday cleared a proposal to offer cash backs to consumers on trial basis for digital payments through Rupay cards, BHIM app and UPI system to promote cashless transactions in rural and semi-urban areas.

Last month, the GST Council brought down the tax rates on several general-used items like TV (below 26 inch), washing machines and refrigerators from 28 to 18 per cent. The industry was demanding a lower GST rate on white goods ever since the GST was rolled out.

Before he became Prime Minister, Narendra Modi vowed to bring all illicit money stashed away in foreign countries, and promised that poor people in the country would get Rs 15 lakh each.

The industry, which had enjoyed various concessions under the previous tax regime, fears that the levy of 18 per cent GST on installation would render projects unviable.

The Central Board of Indirect Taxes and Customs (CBIC) has doubled import duty to 20 per cent on over 50 textile items - mainly garments - to protect the domestic industry. At least, that is the stated intent.

All India Motor Transport Congress started a nationwide indefinite strike on July 20. Their demands include a reduction in central and state taxes by getting diesel under the GST so that price of the deregulated commodity can be reduced.

Their demands include a reduction in central and state taxes by getting diesel under the GST so that price of the deregulated commodity can be reduced.

The government's attempt to sell Air India has failed but its broad public asset management strategy is showing results.