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Indirect Tax

GST Council cuts rates on 33 items; GST for Wheelchair reduced from 28% to 5%

Odisha News Insight Dec 22, 2018 0

ONI Bureau: With an aim to simplify the indirect tax regime, the Goods & Services Tax (GST) Council on Saturday cut rates of 33 items from 18% to 12% and 5% respectively. While, 7 items brought down to 18% from 28% slab, only 34…

Business

Fiscal Tax Collection to fall short of Target: Official

Odisha News Insight Oct 5, 2015 0

New Delhi, Oct 5: The government on Monday said that with a subdued direct tax outlook, it expects revenue collection in the current fiscal to fall short by around Rs.50,000 crore, which would partly be made up by buoyant indirect taxes.…

Business

Indirect Tax Revenue Collection up 9.9 Percent in 2014-15

Odisha News Insight Apr 2, 2015 0

The government on Thursday provisionally reported an increase of 9.9 percent in indirect tax collection at Rs.546,479 crore during April-March 2014-15 on a provisional basis. According to finance ministry, the collection during last fiscal…

Business

Direct tax collections up by 5.7%

Odisha News Insight Dec 24, 2014 0

The Minister of State for Finance Jayant Sinha informed to Rajya Sabha in a written reply that said the both direct and indirect tax collections were increased. The minister in his reply mentioned that the direct tax collection was up by…

Elections

GST Bill gets Cabinet Nod, to be tabled in Parliament

Odisha News Insight Dec 18, 2014 0

The Union Cabinet has approved the Constitution Amendment Bill on goods and services tax (GST), which will pave the way to bring about long-standing indirect tax reforms. The GST bill, with a goal to unify markets and avoid tax cascades, is…