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New Delhi: A search action under Section 132 of the Income-tax Act, 1961 was carried-out on Sh. D.K Shivakumar and Group of Cases on 2nd August 2017 by the Income Tax Investigation ...

New Delhi: In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs ( ...

New Delhi: As per the terms of reference of the Fifteenth Finance Commission. “The Commission may consider proposing measurable performance-based incentives for States,&nbs ...

Mumbai: The Reserve Bank of India (RBI) on Thursday notified the norms for banks with regards to two per cent interest subvention or subsidy for short-term crop loans during 2018-19 and 2019-20. Th ...

New Delhi: Cabinet committee of on Economic Affairs (CCEA) has taken several key decisions for the strengthening of the power sector today. Approval was given for four projects worth over Rs. 31,00 ...

New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Scheme to Rebate State and Central Embedded Taxes to Support the Textile Sector. This will enable the Governmen ...

New Delhi: Ministry of Finance has enhanced the income tax exemption for gratuity under section 10 (10) (iii) of the Income Tax Act, 1961 to Rs. 20 lakhs. 

Santosh Kumar Gangwar, Min ...

New Delhi: The GST law mandates the filing of annual return in FORM GSTR -9 and FORM GSTR-9A. Vide Order No 3/2018-Central Tax, dated 31.12.18, the last date for filing the Annual Return for the Fi ...

New Delhi: The GST Council in its 32nd Meeting held on 10th January 2019, inter-alia, had taken the following decisions to be effective from 1st ...

New Delhi: The World Bank, Government of India and Government of Uttarakhand (GoUK) signed here today a $96 Million Loan Agreement to provide additional funds to the State of Uttarakhand in it ...

New Delhi: The Government of India, the State Government of Chhattisgarh and the World Bank signed here in New Delhi today a $25.2 Million Loan Agreement to support the State’s Reforms in Exp ...

New Delhi: The World Bank and the Government of India signed here today in New Delhi a $250 Million Agreement for the National Rural Economic Transformation Project (NRETP) which will hel ...

New Delhi: The Cabinet today approved payment of the face value of the subscribed share capital of Rs.1450 crore in National Housing Bank(NHB) to Reserve Bank of India (RBl) consequent to amendment ...

New Delhi: The Ministry of Housing & Urban Affairs has approved the construction of another 5,60,695 more affordable houses for the benefit of urban poor under Pradhan Mantri Awas Yojana (Urban ...

New Delhi: The Government of India has announced the Sale (Re-issue) of (i) ‘7.00 per cent  Government Stock, 2021’  for a notified amount of  Rs. 2,000 cr ...

New Delhi: The Central Board of Indirect Taxes and Customs (CBIC) has constituted three Working Groups to study and recommend measures to facilitate trade, promote exports and improve compliance.&n ...

New Delhi: The meeting of the Advisory Council of the Fifteenth Finance Commission was held in New Delhi today. The meeting which was chaired by Shri N.K. Singh, Chairman of the Commission, was att ...

New Delhi: Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu has cleared a proposal aiming at simplifying the process of exemptions for Start-ups under Section 56 (2) (vii ...

New Delhi: The 15th Finance Commission had a detailed meeting with the Trade Associations and Industry Bodies of the Telangana state. Representatives of ETAPCCI, CII, TIF, and others were present.< ...

New Delhi: The 15th Finance Commission today met the representatives of the Urban Local Bodies(ULBs) of Telangana. The meeting discussed issues like the impact of implementation of GST on ULBs due ...

New Delhi: The 15th Finance Commission will be visiting the state of Telangana from 17th to 20th of February 2019. The Commission headed by the Chairman Shri N K Singh will include Members Dr Anoop ...

New Delhi: Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, Giriraj Singh has said that the value of MSME related products’ exported during 2017-18 has rea ...

New Delhi: The Ministry of Tourism has identified the Buddhist Circuit as one of the fifteen thematic circuits for development under the Swadesh Darshan Scheme. The Ministry has sanctioned 

New Delhi: The Government of India has announced the Sale (Re-issue) of (i) ‘7.00 per cent  Government Stock, 2021’  for a notified amount of Rs. 2,000 crore (nomina ...

New Delhi: In terms of Reserve Bank of India's Extant Guidelines on Priority Sector Lending, a target of 10 per cent of Adjusted Net Bank Credit (ANBC) or Credit Equivalent of Off-Balance Sheet ...

New Delhi: Nitin Gadkari, Union Minister of Road Transport & Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation will lay the foundation for 5 National Highways projec ...

New Delhi: The Government of India has announced the Sale (Re-issue) of (i) ‘7.32 per cent Government Stock, 2024’ for a notified amount of Rs. 3,000 crore (nominal) through pri ...

New Delhi: In order to facilitate import of capital goods for producing quality goods and services and enhance India’s manufacturing competitiveness, the Central Government has been implement ...

New Delhi: Ministry of Micro, Small and Medium Enterprises (MSME) is empowering women entrepreneurs through its different schemes.  

1.38 lakh projects have been set up by the w ...

New Delhi: In order to ensure due to compliance of the FDI policy on e-Commerce, Press Note 2 (2018) has been issued. It puts in place certain conditions. These conditions include:

New Delhi: During the last 5 years, the minimum wages of labours of all classes have been increased by 42% which is the highest increase so far. 

While presenting the Interim Budget ...

New Delhi: The Government proposes to launch a mega pension yojana namely 'Pradhan Mantri Shram-Yogi Maandhan'for the unorganised sector workers with monthly incom ...

New Delhi: Under MUDRA Yojana, 15.56 crore loans have been disbursed amounting to Rs. 7,23,000 crore.

While presenting the Interim Budget 2019-20 in Parliament today, the Union Minister f ...

New Delhi: The 15th Finance Commission headed by Chairman N K Singh met with the representatives of the Trade and Industry Bodies in Amritsar as part of its 3 days visit to Punjab. The Commission h ...

New Delhi: Union Minister of Railways, Coal, Finance and Corporate Affairs Piyush Goyal has congratulated the Department of Posts and India Post Payments Bank  (IPPB) for their tremendous effo ...

New Delhi: Headed by Chairman N.K. Singh the Fifteenth Finance Commission will be visiting the State of Punjab from 29 January to 1 February 2019.  This will be the 17

New Delhi: The Government of India has announced the Sale (Re-issue) of (i) ‘7.00 per cent Government Stock, 2021’ for a notified amount of Rs. 2,000 crore (nominal) through price based ...

New Delhi: Every year, the Officers of the Central Board of Indirect Taxes and Customs (CBIC) Department are considered for grant of Presidential Award of Appreciation Certificate for ‘Except ...

New Delhi: Ministry of Coal has been in a constant endeavour to maintain coal stock at a sufficient level and increase coal supply to meet the energy need of the country.

 Coal India ...

New Delhi: The Non-filers Monitoring System (NMS) aims to identify and monitor persons who enter into high-value transactions and have potential tax liabilities but have still not filed their tax r ...

New Delhi: Department of Commerce, Ministry of Commerce & Industry had constituted a Group consisting of SEZ stakeholders under the chairmanship of Baba Kalyani, Chairman & MD, M/s. Bharat ...

New Delhi: The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for regularization of Pay scales of below Board Level Executives in National Hydroelectric Pow ...

New Delhi: The Central Government today released the Eighth Edition of the Status Paper on the Government Debt, which provides a detailed analysis of the Overall Debt Position of the Government of ...

New Delhi: The Loan Agreements were signed here today in New Delhi between the Government of India and JICA, New Delhi under Japanese Official Development Assistance Loan Program. The Loan Agreemen ...

New Delhi: The Competition Commission of India (‘Commission’) has found the Chemists and Druggists Association of Baroda (‘CDAB’) to be in contravention of the provisions of ...

New Delhi: The 15th Finance Commission headed by N K Singh, had detailed discussions with the State Government of Tripura headed by the Chief Minister Biplab Kumar Deb.

The State Governme ...

New Delhi: Union Minister of Agriculture & Farmers Welfare Shri Radha Mohan Singh has said that the role of SFAC is commendable in realizing Hon’ble Prime Minister Shri Narendra Modi ...

New Delhi: The Government of India has allocated an additional Rs. 6,084 crore at RE stage to MGNREGA. This brings the total allocation to the scheme to Rs. 61,084 crore in 2018-19, making it the h ...

New Delhi: India reiterated its willingness to engage in resolving the issues related to the current impasse in the appointment/reappointment of judges in the WTO Appellate Body and urged the WTO M ...

New Delhi: Under PAHAL scheme, the authorized subsidy to LPG consumers is transferred directly into the bank account of the consumers. The subsidy is transferred either through Aadhaar Transfe ...

New Delhi: The provisional figures of Direct Tax collections up to December 2018 show that gross collections are at Rs. 8.74 lakh crores which is&nb ...

New Delhi: The GST Council in its 32nd Meeting held today under the Chairmanship of the Union Minister of Finance & Corporate Affairs, Shri Arun Jaitley in New Delhi took t ...

New Delhi: The meeting of the 15th Finance Commission headed by Shri N K Singh was held with the State Government of Odisha headed by Chief Minister Shri Naveen Patnaik in Bhubanesw ...

New Delhi: Government has allowed premature withdrawal from New Pension Scheme Fund. A subscriber is eligible for three partial withdrawals during the period of subscription under National Pension ...

New Delhi: The Reserve Bank of India (RBI) regulates and supervises Public Sector And Private Sector Banks. Powers of RBI under the provisions of the Banking Regulation Act, 1949, it can,  ...

New Delhi: The Government of India has announced the Sale (Issue/Re-issue) of (i) ‘7.37 per cent Government Stock, 2023’for a notified amount of  Rs.3,000 crore (nominal) through&n ...

New Delhi: The government of India supports the producers of spices in the country through its flagship programme, Mission for Integrated Development of Horticulture (MIDH), with the objective of p ...

New Delhi: The total gross GST revenue collected in the month of December 2018 is Rs. 94,726 crore of which CGST is Rs. 16,442 

New Delhi: The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval to list the following seven Central Public Sector Enterprises(CPSE) on ...

New Delhi: National Investment & Manufacturing Zones (NIMZs) are one of the important instruments of National Manufacturing Policy, 2011. 

NIMZs are envisaged as large areas of d ...

New Delhi: The Department of Agriculture, Cooperation & Farmers Welfare (DAC&FW) fixes a target for the production of foodgrains in the country annually. The target for the production of fo ...

New Delhi: SEBI has introduced the SEBI (Settlement Proceedings) Regulations, 2018 that have been notified on 30.11.2018 and will come into effect from 01.01.2019. On the date of commencement of th ...

New Delhi: GST Council in the 31st meeting held on 22nd December 2018 at New Delhi took following decisions relating to changes in GST rates on goods and servic ...

New Delhi: The GST Council in its 31st meeting held today at New Delhi made the following policy recommendations:

  1. There would be a single cash ledger for each ...

New Delhi: The Government had constituted a Task Force to draft a New Direct Tax Law to vide Officer Order in F.No. 370149/230/2017 dated 22.11.2017 under the Convenorship of Shri Arbind Modi, the ...

New Delhi: The Government has initiated formulation of laws to secure prudential banking and help effect a culture of credit discipline, including, inter alia, in terms of the followi ...

New Delhi: Twenty-one projects are under implementation or have been completed in the States of Jammu & Kashmir, Himachal Pradesh, Uttarakhand and North Eastern States including six projects in ...

New Delhi: Since Apr-June (Q1) 2010-11, Public Debt Management Cell (PDMC) (earlier Middle Office), Budget Division, Department of Economic Affairs, Ministry of Finance has been bringing out a quar ...

New Delhi: The autonomy for the Central Bank, within the framework of the Reserve Bank of India (RBI) Act, is an essential and accepted governance requirement. A press release was issued by the Gov ...

New Delhi: Government of India (GoI) announced recapitalisation of Public Sector Banks (PSBs) to the tune of Rs. 2.11 lakh crore in October 2017, through the infusion of capital by the Government a ...

New Delhi: Under Section 14 of the Customs Act, 1962, the Central Board of Indirect Taxes and Customs (CBIC) notifies the Rate of Exchange for the purpose of conversion of foreign exchange to India ...

New Delhi: The Provisional Figures of Direct Tax Collections up to November 2018 show that gross collections are at Rs. 6.75 lakh crore which is 15.7% high ...

New Delhi: The Union Cabinet in its Meeting on 6th December 2018 has approved the following proposal for streamlining the National Pension System (NPS).

Enhancement of the ...

New Delhi: The Ministry of Shipping has approved the development of aRs 156 crore freight village in Varanasi adjoining the Inland Waterways Terminal on River Ganga. The Varanasi freight village wi ...

New Delhi: The Department of Investment and Public Asset Management (DIPAM), Ministry of Finance observed Swachhta Pakhwada from 16th to 30th November 2018.

< ...

New Delhi: The Monetary Policy Committee (MPC) in its Fifth bi-monthly Statement, issued today, on the basis of its assessment of the current and evolving macroeconomic situation, decided to keep t ...

New Delhi: The Government of India and the Asian Development Bank (ADB) signed a loan o $85 million loans on 03.12.2018 to improve the skill development eco-system in Odisha and establish an advanc ...

New Delhi: Hardeep S Puri, Union Minister of State(I/C) for Housing and Urban Affairs has informed that construction of more than 2.3 lakh houses has been sanctioned for the Urban poor under the&nb ...

New Delhi: “Government is not only fully funding the HIV/AIDS programme but also increasing the resource envelope in accordance with the programme needs.” This was stated by Smt. A ...

New Delhi: The Second Quarter Data for the GDP growth for the Financial Year (FY) 2018-19 has been released today.  The Ministry of Finance makes the following Statement in this regard.

...

New Delhi: Dr Ajay Bhushan Pandey (IAS: MH 1984) took over as the Union Revenue Secretary upon superannuation of Dr Hasmukh Adhia here today. Outgoing Finance Secretary & Revenue Secretary, Dr ...

New Delhi: In view of the disturbances caused to daily life by Cyclone Titli in the district of Srikakulam, Andhra Pradesh, and by Cyclone Gaza in eleven districts of Tamil Nadu viz., Cuddalore, Th ...

New Delhi: The cumulative number of houses sanctioned under PMAY(U) now is 65,04,037. The Ministry of Housing & Urban Affairs has approved the construction of another 2,05,442 more affordable h ...

New Delhi: In order to review the Income-tax Act, 1961 and to draft a new direct tax law in consonance with the economic needs of the country, a Task Force was constituted by the Government of Indi ...

New Delhi: The Economic Diplomacy (ED) Division of Ministry of External Affairs and Trade Promotion Council of India (TPCI) is taking a delegation of representatives of top infrastructure, housing ...

Silvassa: The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the setting up of Medical College at Silvassa in the Union Territory (UT) of Dadra and Nagar Haveli.

...

New Delhi: Union Minister of Agriculture and Farmers’ Welfare Radha Mohan Singh has said that the Blue Revolution mission aims at doubling the income of farmers and in the last four & hal ...

New Delhi: The Government of India, the Government of Jharkhand and the World Bank signed here today in New Delhi a $310 million Loan Agreement for Jharkhand Power System Improvement Proj ...

New Delhi: The Baba Kalyani led committee constituted by the Ministry of Commerce& Industry to study the existing SEZ policy of India submitted its report to the Union Minister for Commerc ...

New Delhi: To cater to the needs and aspirations of the youth, the National Cooperative Development Corporation (NCDC) has come up with a youth-friendly scheme ‘Yuva Sahakar-Cooperative ...

New Delhi: XVFC concluded the International Workshop in India on Financing of Disaster Risk Management yesterday in New Delhi. The two-day conference discussed various issues related to Disaster Ri ...

New Delhi: The Government of India has announced the Sale (Re-issue) of (i) ‘6.65 per cent Government Stock, 2020’  for a notified amount of  Rs. ...

New Delhi: The GST Act provides for allotting a Unique Identification Number (UIN) to Consulates, Embassies and other UN Organizations to enable such entities to claim a refund of GST paid. One of ...

New Delhi: "In-principle" approval for leasing out six airports of AAI viz. Ahmedabad, Jaipur, Lucknow, Guwahati, Thiruvananthapuram and Mangaluru for operation, management and developmen ...

New Delhi: The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Narendra Modi announced a financial package of Rs. 469.41 crore for the Revival and Mill Development Plan (RMDP) ...

New Delhi: Commerce Secretary, Dr Anup Wadhawan, had a bilateral meeting with Mr Wang Shouwen, Vice Minister of China’s Commerce Minister, in Shanghai. The Commerce Secretary was accompanied ...

New Delhi: India and Japan signed a Loan Agreement worth Rs. 1817 crore for the ‘Project for the Construction of Turga Pumped Storage contributing to the Industrial Development and Livin ...

New Delhi: The Ministry of Home Affairs (MHA) has approved a Safe City project for Lucknow at a total cost of Rs.194.44 crore under the Nirbhaya Fund Scheme. The project would be implemented as a C ...

New Delhi: Department of Consumer Affairs (DoCA) reviewed the price and availability situation of Onion in Delhi in a High-Level meeting chaired by the Secretary, DoCA Shri Avinash K. Srivastava wi ...

New Delhi: The Monthly Account of the Union Government of India up to the month of September,2018 has been consolidated and reports published. The highlights are given below:- 

The G ...

New Delhi: The ASSOCHAM lauded the Reserve Bank of India's (RBI) move to incentivise banks which are enhancing credit lending facilities to non-banking financial companies (NBFCs) by easing liq ...

New Delhi: The Reserve Bank of India (RBI) on Friday increased lenders' single borrower exposure limit for Non-Banking Financial Companies (NBFCs) which do not finance infrastructure, to 15 per ...

New Delhi: The Insolvency and Bankruptcy Code, 2016 (Code) is a modern economic legislation. Section 240 of the Code empowers the Insolvency and Bankruptcy Board of India (IBBI) to make regulations ...

New Delhi: The Insolvency Law Committee (ILC) constituted by the Ministry of Corporate Affairs to recommend amendments to Insolvency and Bankruptcy Code of India, 2016,  has submitted its  ...

New Delhi: Continuing the practice of placing key statistics relating to direct tax collections and administration in public domain, the Central Board of Direct Taxes (CBDT) has further released ti ...

New Delhi: " A delegation of 32 Indian SMEs led by Alka Arora, Joint Secretary, Ministry of MSME, is participating in the 8th European Congress on SMEs at Katowice, Poland.

...

New Delhi: A review was done by the Steel Ministry for preparation of feasibility report for establishing a steel plant in YSR Kadapa District, Andhra Pradesh, as envisaged under Andhra Pradesh Reo ...

New Delhi: There appear to be misgivings about the last date for taking Input Tax Credit (ITC) in relation to invoices or debit notes relating to such invoices pertaining to the period ...

New Delhi: The Mid-year assessment shows exports growing in a healthy manner, building on export growth was seen in 2016-17 and 2017-18. In the first six months (April-September 2018), merchandise ...

New Delhi: The Government of India has announced the Sale (Re-issue) of (i) “6.65 per cent Government Stock, 2020”  for a notified amount of  Rs. 2,000 crore

New Delhi: It has been noticed that unverified reports of pending GST refunds on account of exports are published in the print media by trade bodies. These figures being put out in the public domai ...

New Delhi: The Central Government has approved a special package for employment generation in the leather and footwear sector. The package involves the implementation of Central Sector Scheme - Ind ...

New Delhi: Grant of ‘Special Category Status’ to states is out of the purview of the Ṭerms of Reference of Finance Commission, said Chairman of Finance Commission N.K.Singh at a press ...

New Delhi: The due date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-19 is 30th September, 2018 for certain categories of taxpayers. Central Board of Direct Taxe ...

New Delhi: The SEZ Policy Review Committee, headed by Baba Kalyani, met in New Delhi today. This was the final round of consultations with the committee members under the chairmanship of the Commer ...

New Delhi: Government of India and Asian Development Bank (ADB) today signed a $110 million loan to finance the upgrade of 2,800 kilometres all-weather rural roads in the State of Madhya Pradesh un ...

New Delhi: The provisional figures of Direct Tax collections up to September 2018 (Half-yearly figures) show that gross collections are at Rs. 5.47 lakh cror ...

New Delhi: Government of India and the Asian Development Bank (ADB) today signed $240 million loans for providing safe and sustainable drinking water to about 1.65 million people in three districts ...

New Delhi: The Asian Development Bank (ADB) and the Government of India signed here today a $150 Million Loan to finance continued improvements to road connectivity and efficiency of the Internatio ...

New Delhi: The Monthly Account of the Union Government of India up to the month of August 2018 has been consolidated and reports published.

The highlights are given below:-

Tota ...

New Delhi: Union Minister for Road Transport & Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation Nitin Gadkari said in Shillong today, that the Centre will spend 1 l ...

New Delhi: The due date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-19 is 30th September 2018 for certain categories of taxpayers. Upon consideration of represe ...

New Delhi: In the wake of a revision in the Know Your Client (KYC) norms and eligibility conditions for Foreign Portfolio Investors (FPIs), Department of Economic Affairs (DEA) Secretary Subha ...

New Delhi: The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has given its ex-post facto approval to ASHA Benefit Package w.e.f. October 2018 (to be paid in&nbs ...

New Delhi: The Initial Public Offering (IPO) of CPSE IRCON has been subscribed 9.5 times. In the IRCON IPO, the Government is selling 10.5 per cent stake or about 99.05 lakh equity shares, includin ...

New Delhi: The Defence Acquisition Council (DAC), chaired by Raksha Mantri Smt. Nirmala Sitharaman, met here today and accorded approval for the procurement of equipment for the Defence Forces valu ...

New Delhi: Commerce and Industry Minister Suresh Prabhu led the Indian delegation for the G-20 Trade Ministers Meeting (TMM) held at Mar del Plata, Argentina on 14 September 2018. The G-20 TMM was ...

New Delhi: Interest payable by an Indian company or a business trust to a non-resident, including a foreign company, in respect of rupee-denominated bond issued outside India before the 1st

New Delhi: The Fifteenth Finance Commission of the Government of India is visiting the state of Maharashtra from 17th to 19th September 2018. The Commission led ...

New Delhi: The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the proposal for electrification of balance un-electrified BG routes of Indian R ...

New Delhi: It has been observed that the number of taxpayers who have filed FORM GSTR-3B is substantially higher than the number of taxpayers who have furnished  ...

New Delhi: The Major ports in India have recorded a growth of 5.13% and together handled 288.38 Million Tonnes of cargo during the period April to August 2018 as against 274.32 Million Tonnes ...

New Delhi: Minister of State for Tourism (I/C) K.J. Alphons today announced that the Ministry of Tourism has sanctioned the project “Development of Rural Circuit: Malanad Malabar Cruise Touri ...

New Delhi: The Central Statistics Office today released the estimates of GDP for the first quarter (Q1) of 2018-19.  In line with momentum built in the economy, the growth of GDP in real terms ...

New Delhi: The Monthly Account of the Union Government of India up to the month of  July 2018 has been consolidated and reports published. The highlights are given below:-

The Govern ...

New Delhi: The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval for revision of the project outlay for setting up of India Post Payments Bank (IPPB) from Rs. 800 cr ...

New Delhi: Under Heritage Circuit in the state of Punjab, the project covers sites of Anandpur Sahib – Fatehgarh Sahib – Chamkaur Sahib – Ferozpur – Amritsar &ndas ...

New Delhi: Pension Fund Regulatory and Development Authority (PFRDA) organised a Regional Atal Pension Yojana (APY) Strategy cum Review Meeting for FY 2018-19 at Bengaluru yesterday for South Based ...

New Delhi: The Defence Acquisition Council (DAC), chaired by Hon’ble Defence Minister Nirmala Sitharaman, met on 25 Aug 2018 and accorded approval for procurement for the Services amounting t ...

New Delhi: Income-tax Rules, 1962 (I.T.Rules) prescribe Form No.13 for filing an application for seeking a certificate under Section 197 and/or under Section 206C (9) of the Income-tax Act, 1961 (t ...

New Delhi: In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.67/ ...

New Delhi: Reserve Bank of India (RBI) has issued instructions to banks regarding the safety of bank lockers for exercising due care and necessary precaution for the protection of the lockers provi ...

New Delhi: Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with Rule 6G of the Income-tax Rules, 1962 (‘the Rules’) requires prescribed persons to furnish the Tax ...

New Delhi: The Atal Pension Yojana (APY) was launched in May 2015 and is operational from 1st June 2015. The APY is primarily focussed on all citizens in the unorganised sector, who are not covered ...

New Delhi: Neeraj Singhal, erstwhile Promoter and Managing Director of Bhushan Steel Limited was arrested by the Serious Fraud Investigation Office (SFIO). He was produced before the court of ...

New Delhi: Acting upon a specific input, the officers of Delhi Zonal Unit of the Directorate of Revenue Intelligence (DRI), Department of Revenue, Government of India has intercepted seven foreign ...

New Delhi: Income Tax Notices have been issued by the Income Tax Department and the Enforcement Directorate. In respect of Income Tax Department, assesses including, non-resident assesses are serve ...

New Delhi: The revenue from the Goods and Services Tax (GST) touched Rs. 7.19 lakh crore between August 2017 and March 2018. The Monthly Revenue Average from GST was at Rs. 89,885 crores for the sa ...

New Delhi: As per extant Guidelines issued by Reserve Bank of India (RBI), there is no requirement of maintaining minimum balance in Basic Savings Bank Deposit (BSBD) accounts including Jan Dh ...

New Delhi: The Total Gross GST Revenue collected in the month of July 2018 is Rs. 96,483 crore of which CGST is Rs. 15,877 crore, SGST is Rs. 22,293 crore, IGST is Rs. 49,951 crore (including Rs. 2 ...

New Delhi: Employment generation coupled with improving employability is the priority of the Government. The Government is implementing various programs in this direction like encouraging priv ...

New Delhi: Government of India has announced the Sale (Re-issue) of (i) “6.65 per cent Government Stock, 2020”  for a notified amount of  Rs. 2,000 crore (nominal) through&nbs ...

New Delhi: Tribal and Rural Circuits are among the fifteen thematic circuits identified for development under Swadesh Darshan Scheme.

The projects under the scheme are identified for deve ...

New Delhi: While replying to a starred question in Rajya Sabha today, Union Minister for HRD Prakash Javadekar said that the University Grants Commission (UGC) issued / notified the UGC (Declaratio ...

New Delhi: Minister of State for Planning (IC) and Chemicals & Fertilizers, Rao Inderjit Singh, in a written reply to a question on National Policy on Fertilizer Supply, in Lok Sabha ...

New Delhi: The Union Government, at present, is not considering any loan waiver Scheme for farmers, as such, waivers may impact the credit culture of a State by incentivising the defaulters, e ...

New Delhi: In a written reply to an Unstarred Question in Rajya Sabha, Dr Mahesh Sharma, Ministry of state (independent charge) for Culture and Minister of State for Environment, Forest and Climate ...

New Delhi: A reforms agenda based on recommendations made by Whole-Time Directors and senior management of Public Sector Banks (PSBs) has been referred by the Government to PSBs for action as per a ...

New Delhi: The Government is aware of the newspaper reports on cash crunch in ATMs, which displayed no-cash boards. 

RBI has informed that the increase in ...

New Delhi: As per bank inputs, banks had set-up a Committee on Resolution of Stressed Assets, which has given its Report suggesting a five-pronged approach for stressed assets resolution by the ban ...

New Delhi: For incubation and funding support more than 550 Startups have been mentored, 2,20,000 registrations have been achieved and over one lakh queries have been handled by the Startup India H ...

New Delhi: The GST Council in its 28th meeting under the Chairmanship of Shri Piyush Goyal, Union Minister for Railways, Coal, Finance & Corporate Affairs took followi ...

New Delhi: The Fifteenth Finance Commission of the Government of India is visiting the state of Gujarat from 22nd to 25th July 2018. The Commission led by the Chairman ShriN.K.Singh, ...

New Delhi: Ministry of Home Affairs have not sought any advice from Department of Pension and Pensioners’ Welfare on the question of having the policy to cover the paramilitary personnel appo ...

New Delhi: In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.60/ ...

New Delhi: Ministry of Tribal Affairs approves setting up of Eklavya Model Residential Schools (EMRSs) in States/ UTs from allocated grants provided under “Grants under Article 275(1) of the ...

New Delhi: The Ministry has notified in May 2017 the following schemes under Section 7 of the Aadhaar linkage to Targeted Delivery of Financial and Other Subsidies, Benefits and ServicesAct, 2 ...

New Delhi: Measures taken by the Government on FDI policy liberalization along with improvement in ease of doing business climate has resulted in the growth of total FDI inflows.

The coun ...

New Delhi: In order to sort out the problems being faced by the exporters for refund claims of GST two ‘Special Drive Refund Fortnight’ were organized from 15.3.20 ...

New Delhi: The number of Micro, Small and Medium Enterprises (MSMEs) registered on Udyog Aadhaar Memorandum (UAM) Portal from September 2015 to  12th July 2018 is nearly 48.40 ...

New Delhi: It will be the endeavour of the 15th Finance Commission that performance is not penalised and virtues of efficiency and equity are suitably recognised, reiterated the Cha ...

New Delhi: Ministry of Steel has agreed to the proposal received from various CPSEs under its control to introduce the pension scheme with effect from 1st January 2007 in case of executives and 1st ...

New Delhi: The Government of India has announced the Sale (Re-issue) of (i) “6.65 per cent Government Stock, 2020”  for a notified amount of  `

New Delhi: Refunds of GST have been a concern for the Government and Trade for the past several months.  In this regard, the CBIC has observed two special drives cum refund fortnights in the M ...

New Delhi: The President of India, Ram Nath Kovind said that it is for cost accountants to ensure that wasteful activities and costs in production are removed. It is for cost accountants to help in ...

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports during June 2018 were valued at US $ 27.70 Billion as compared to US $ 23.56Billion ...

New Delhi: In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate the Ease of Doing Business, Government of India has de ...

New Delhi: Union Minister of State (IC) for Power and New & Renewable Energy R.K Singh took a meeting here, today, with the officials from ADB and Finance Ministry to review the progress of lin ...

New Delhi: Under PMAY (U)  so far more than 51 Lakhs dwelling units have been sanctioned against the validated demand of 1 crore in last 3 years of implementation. This is a huge jump in ...

New Delhi: The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regu ...

New Delhi: The Income Tax Department observed a dedicated fortnight from 1st to 15th June 2018 to expeditiously clear pending matters of appeal effect and rectificat ...

New Delhi: Government of India has announced the Sale (Re-issue) of (i) “6.65 per cent Government Stock, 2020”  for a notified amount of  Rs. 2,000 crore (nominal) through&nbs ...

New Delhi: The total gross GST revenue collected in the month of June 2018 is Rs 95,610 crore of which CGST is Rs 15,968 crore, SGST is Rs. 22,021 crore, IGST is Rs 49,498 crore (including Rs. 24,4 ...

New Delhi: The Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 02nd January 2018. As per provisions of the Scheme, Electoral B ...

New Delhi: The Monthly Account of the Union Government of India up to the month of May 2018 has been consolidated and reports have been published.

The highlights are given below:-

...

New Delhi: “The First Sixty-Seven years after Independence from 1947 to 2014 saw a total number of 3.82 crores assesses filing tax returns. Obviously, in comparison to the total population of ...

New Delhi: The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved a contribution of Grant-in-Aid (Corpus) of Rs.1,040 crore to National Export Insurance Acco ...

New Delhi: In recognition of the notable contributions made by Late Professor Prasanta Chandra Mahalanobis in the fields of statistics, statistical system and economic planning, Governmen ...

New Delhi: As per recommendation of the 14th Finance Commission in para 14.64, the States have the access to additional borrowing limits subject to fulfilment of conditions mentione ...

New Delhi: With the total project portfolios of US$4.4 Billion, India has been the largest borrower of Asian Infrastructure Investment Bank (AIIB) lending since the time the Bank started its o ...

New Delhi: In order to make the actual allocation of funds consistent with that of the primary adjustment, section 92CE was inserted in the Income-tax Act, 1961 (‘the Act’) vide Finance ...

New Delhi: In line with the commitment of Government to liquidate all pending GST refunds filed till 30th April 2018, the Central Board of Indirect Taxes and Customs (CBIC) has succ ...

New Delhi: The fresh release made in the media today under ‘Panama Paper Leaks’ is being promptly looked into by the law enforcement agencies under the aegis of the Multi-Agency Group ( ...

New Delhi: The Department of Commerce will soon open 10 offices in Indian missions abroad for accelerating export promotion activities. This was informed by Commerce &amp; Industry Minister, Su ...

New Delhi: Income-tax Rules, 1962 (I.T.Rules) prescribe Form No.36 for filing an appeal to the Income Tax Appellate Tribunal (ITAT). Further, a memorandum of cross-objections to the ITAT can be fil ...

Mumbai: The Reserve Bank of India (RBI) declared that a Public Credit Registry (PCR) would be set up in a modular and phased manner, to restore the economy's credit culture.

New Delhi: A meeting of the Expenditure Finance Committee (EFC) under the Chairpersonship of Secretary, Department of Expenditure, was held this week to consider the proposal of Ministry of Water R ...

New Delhi: The Major Ports in India have recorded a growth of 2.41% and together handled 116.26 Million Tonnes of cargo during the period April to May 2018 as against 113.52 Million Tonnes han ...

New Delhi: It was found in many cases that black money was invested in properties in the names of others, even though benefits were enjoyed by the investor concealing his beneficial ownership in hi ...

New D3elhi: The total gross GST revenue collected in the month of May 2018 is Rs.  94,016 crore of which CGST is Rs.15,866 crore, SGST is Rs.21,691 crore, IGST ...

New Delhi: It has been reported in a certain section of the Press that certain changes have been made in GST law relating to farmers, which will come into force with effect from 1st ...

New Delhi: The Term of the Task Force constituted to review the existing Income-tax Act, 1961 & to draft a New Direct Tax Law in consonance with economic needs of the country has been extended ...

New Delhi: The Fifteenth Finance Commission of the Government of India is visiting the state of Kerala from 28th to 31st May 2018. The Commission led by the Chairman N.K.Singh, Members – ...

New Delhi: The Fifteenth Finance Commission has constituted a high-level group consisting of eminent experts from across the country in Health Sector. Dr RandeepGuleria, Director, AIIMS, New Delhi ...

New Delhi: The State bank of India (SBI) has reported a net loss of Rs. 7,718 crores in the fourth quarter of the Financial year 2017.

According to sources from the bank, the losses incur ...

New Delhi: In the interest of taxpayers, it has been decided to extend the last date for filing of return in FORM GSTR-3B for the month of April 2018 for two days, i ...

New Delhi: The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Narendra Modi today has approved an initial Corpus of Rs.5,000 crore for setting up of a dedicated “Micro I ...

New Delhi: In a major boost to public transport infrastructure in NOIDA, the Union Cabinet Chaired by Prime Minister Narendra Modi has approved an extension of Delhi Metro corridor from Noida City ...

New Delhi: Aluminium major &Navratna CPSE National Aluminium Company Limited (NALCO) has signed MoU with the Ministry of Mines, Govt. of India, setting highest ever the target of Rs 9350 crore ...

New Delhi: As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 01st April 2018. As on 13th May, 2018 ...

New Delhi: The Inland Waterways Authority of India (IWAI) will involve banks for ensuring availability of financing options for the private players engaged in Inland Water Transport (IWT) sector. F ...

New Delhi: The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of March 2018 have been released by the Central Statistics Office of the Ministry of Statistic ...

New Delhi: The Central Board of Direct Taxes (CBDT) announced the rules amending the Double Taxation Avoidance Agreement (DTAA) between India and Kuwait.

The protocol renew ...

New Delhi: The Fifteenth Finance Commission has constituted an Advisory Council to advise and assist the Commission. The role and functions of the Advisory Council will be:

  • To adv ...

New Delhi: The Government of India has announced the Sale (Re-issue) of (i) “6.84 per cent Government Stock, 2022”  for a notified amount of 3,000 crore (nominal) th ...

New Delhi: Subhash Chandra Garg Secretary, Department of Economic Affairs (DEA), made the intervention on behalf of Indian the Plenary Session of the 51st Annual Meeting of Asian Development Bank ( ...

New Delhi: Pension Fund Regulatory and Development Authority (PFRDA) has announced its new decisions to simplify and improve the operational issues in National Pension System (NPS) like new fu ...

New Delhi: The Income Tax (IT) department has found three lakh unreported transactions in the financial year 2017-18. According to reliable sources, the value of these transactions detect ...

New Delhi: The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has given its approval to provide financial assistance @ of Rs. 5.50 per quintal of cane crushed in ...

Mumbai: The Board of Directors of SBI Life Insurance Company Limited has approved its audited financial results for the year ended on March 31, 2018, after its meeting in Mumbai.

The deta ...

New Delhi: Central Board of Direct Taxes (CBDT) has notified that the Finance Act 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) an ...

New Delhi: The Fifteenth Finance Commission of the Government of India is visiting Assam, the gateway to the North East of India from 25th to 27th April 2018. The Commission will assess t ...

New Delhi: A rapid increase in financial inclusion has taken place in the country says the Global Findex Report, 2017 released by the World Bank. 

The report says the way in whi ...

New Delhi: The International Monetary Fund (IMF) has commented that it anticipates India to re-emerge as one of the fastest growing major economies in the 2018 - 2019. The IMF said t ...

New Delhi: The Central Government has insisted that about 86 percent ATMs in the country are functioning properly and are dispensing cash.

Over 90 percent of ATMs are dispensing ...

New Delhi: The State Bank of India (SBI) stated that the present and unexpected surge in Currency in Circulation (CIC) could be superficial. The State Bank of India is a leading ...

New Delhi: A delegation led by Dy. Chief Minister and Finance Minister of Tamil Nadu O. Pannerselvam met the 15th Finance Commission today. The delegation submitted a memorandum to ...

New Delhi: Atal Pension Yojana (APY) is being implemented through the APY Service Providers comprising of Public Sector Banks(PSBs), Private Sector Banks, Regional Rural Banks (RRBs), Cooperative B ...

New Delhi: There are reports of cash shortages and some ATMs running dry of cash or becoming non-functional in some parts of the country.

There has been an unusual spurt in currency deman ...

New Delhi: Doubts are being raised about the manner of filing the quarterly return by composition dealers in FORM GSTR-4. In particular, there is a doubt with respect to the i ...

New Delhi: The Government notified the scheme of Electoral Bonds on Jan. 02, 2018. Electoral Bond is a bearer instrument in the nature of a Promissory Note. 

The Purchaser is allowed ...

New Delhi: A Memorandum of Undertaking (MoU) was signed between the Indian Army and Axis Bank on the Defence Salary Package on 13 Apr 2018. The first MoU between Axis Bank and the Indian Army was s ...

New Delhi: The Employees' Provident Fund Organisation (EPFO) has declared that the pensioners under the Employee Pension Scheme (EPS) can now submit a life certificate without the Aadhaar ...

Kathmandu: The State Bank of India (SBI) would invest Rs 80 billion in the Arun III hydropower project of Nepal. The project has 900 megawatts (MW) elec ...

New Delhi: India and World Expo 2020 signed participants contract today for India’s pavilion in the prestigious World Expo 2020 held once in 5 years. The contract was signed by Manoj K. Dwive ...

New Delhi: As per the decision of GST Council, e-Way Bill system for all inter-State movement of goods has been rolled-out from 01st April 2018. E-way Bill system for Intra-State movement of goods ...

New Delhi: The Reserve Bank of India (RBI) has stated that it has started reviewing the feasibility of introducing a central bank digital currency. Besides the release of its bi-monthly&n ...

New Delhi: The government of India has announced the Sale (Issue/Re-issue) of (i) “New Government Stock of 5-year tenor”  for a notified amount of  Rs. 3,000 crore (nominal) t ...

New Delhi: Ministry of Corporate Affairs Secretary Injeti Srinivas stated that individual borrowers would be brought under the power of the Insolvency and Bankruptcy Code, 2016 (IBC) ...

Mumbai: The Reserve Bank of India (RBI) has assessed that the real Gross Domestic Product (GDP) growth for Financial Year 2020 will range from 7.4 to 7.9 percent.

The six-member Mone ...

New Delhi: RBI has informed that the guidelines/norms and procedure for audits have been issued by RBI, in consultation with Government of India. The Reserve Bank of India (RBI) is the regulator an ...

New Delhi: In the FY 2018 - 19 RS. 569 crores have been invested in 120 Startups Generating 6515 Jobs. Modification of definition of Startups in May 2017 and improvements ...

Mumbai: The Reserve Bank of India (RBI) in its monetary policy has kept the repo rate and the reverse repo rate unchanged at 6 percent and 5.75 percent respectively.

T ...

NewDelhi: Efficient logistics is critical for countries like India to harness trade and facilitate greater & faster integration with both the domestic as well as world economy. Keeping this in ...

Pune: Bajaj Finance Ltd., the lending division of Bajaj Finserv, offers investors an opportunity to earn higher returns through its Fixed Deposit. Fixed deposit (FD) or Term Dep ...

New Delhi: The Centre has approved the special package for employment generation in leather and footwear sector. The package involves implementation of Central Sector Scheme ‘Indian Footwear, ...

New Delhi: Over 9829 kilometres National Highways were constructed during the year 2017-18. This represents 20 per cent growth over the last year, when 8231 kilometres ...

New Delhi: Small Industries Development Bank of India (SIDBI) celebrated its foundation day on Monday. In relation to this, the Bank has launched a series of initiatives from its Lucknow bank ...

New Delhi: The Reserve Bank Governor Urjit Patel held a meeting with Finance Minister Arun Jaitley. According to reliable sources, It is being said that they have discuss ...

New Delhi: As per decision of the GST Council, e-Way Bill system became mandatory from 01stApril, 2018  for all inter-State movement of goods. The implementation of t ...

New Delhi: During the month of February 2018, the total revenue received under Goods and Services Tax (GST)  has been Rs. 85,174 crores, according to the Ministry of Finance.

This is ...

Mumbai: India's fastest growing education ecosystem NBFC, Auxilo Finserve Pvt. Ltd has launched unique Swift Education Loans for students' soliciting admissions for ...

New Delhi: The Central government has launched the ‘Pradhan Mantri Vaya Vandana Yojana (PMVVY)’ to provide social security during old age and to protect elderly persons aged 60 years an ...

New Delhi: As per the 2nd Advance Estimates (2nd AE) released by Central Statistics Office on 28th February 2018, the growth rate of Gross Domestic Product (GDP) at ...

New Delhi: As per Reserve Bank of India (RBI) guidelines and policy approved by Bank Boards, non-performing loans, including, inter alia, those in respect of which full provisioning has been made o ...

New Delhi: Since 2014-15, financial assistance was given to accelerate socio-economic development of the Most Backward Regions/Districts in the country under the Backward Region Grant Fund (BR ...

New Delhi: The Government of India, in consultation with Reserve Bank of India, deliberated over its borrowing programme for 2018-19 and finalised its borrowing calendar for the first half of 2018- ...

New Delhi: The last date for filing belated returns for Assessment Years 2016-17 and 2017-18 and revised returns for Assessment Year 2016-17 is 31st March 2018. The Financial Year 2017-18 clos ...

New Delhi: The Government of India has constituted the Fifteenth Finance Commission under the Chairmanship of N. K. Singh. The composition, Terms of Reference including revenue sharing, and Date of ...

New Delhi: The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as under:

 

New Delhi: Amid the multiple scams unearthed recently in the banking sector, the Reserve Bank of India (RBI) has issued a Prompt Corrective Action (PCA) framework to maintain the sound financial he ...

New Delhi: The Central Government and the Asian Development Bank (ADB) has signed a loan agreement amounting to USD 120 million for the completion of works for double-tracking and el ...

New Delhi: In the wake of the PNB scam, 107 companies and seven limited liability partnerships (LLPs) are under the scanner.

The billion dollar scam happened at Punjab National Bank  ...

New Delhi: During the current Sugar Season 2017-18, the sugar production in the country is estimated to be substantially higher than the estimated domestic consumption.

Sufficient surplus ...

New Delhi: The public debt of the central government, excluding liabilities under the 'Public Account' as per provisional data increased to Rs. 66,61,038 crore at the end of Decem ...

New Delhi: The Reserve Bank of India (RBI) is likely to reduce the key policy rates by 25 bps in August this year, which will lead to lending rate cuts, and in turn, supp ...

New Delhi: Verification of the LoUs found that no other unauthorised authority letters were issued except for those issued by Punjab National Bank, according to a se ...

Mumbai: Happy Loans, a digital lending platform focusing on micro-credit for the MSME sector has entered a partnership with rural digitisation and commerce optimisation platform call ...

New Delhi: In the wake of PNB - Diamond merchant Nirav Modi fraud case, the Reserve Bank of India (RBI) has announced the discontinuation of the issuance of Letters of Unde ...

New Delhi: The number of beneficiaries enrolled under Pradhan Mantri Matru VandanaYojana (PMMVY) has increased to 17,66,423. Every day on an average, around 50, 000 new applications are received fo ...

New Delhi: The GST Council has recommended a number of measures pertaining to change in Goods and Services tax rate and policy including the GST rates on eateries and small traders. This is based o ...

New Delhi: Indian Renewable Energy Development Agency (IREDA) Ltd. and the European Investment Bank (EIB) and has signed a loan agreement for the second line of credit of EUR 150 million on a non-s ...

Pune: Bajaj Finance Ltd has reduced its personal loan interest rates to 12.99 percent for a loan amount above Rs.10 lakhs.

Clients taking a loan of Rs. 8 lakh to ...

Mumbai: Federal Bank has declared its entry into a strategic partnership with two new booking partners M/s Celebrus Capital Ltd and M/s Fortune Wealth Management Co India Pvt. Ltd. T ...

New Delhi: In the wake of Diamond merchant Nirav Modi-led Punjab National Bank (PNB) fraud case, Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday stated t ...

New Delhi: The Insolvency and Bankruptcy Board of India (IBBI) on Tuesday has signed a Memorandum of Understanding (MoU) with the Reserve Bank of India (RBI) for efficient implementation of the&nbs ...

 New Delhi: The State Bank of India (SBI) announced a substantial reduction of charges for non-maintenance of Average Monthly Balance (AMB) in savings accounts, effective April 1.

Th ...

New Delhi: The government has decided to speed up input tax refund to exporters. As per rule 91 of CGST Rules, 2017, ninety percent of the refund amount claimed shall be granted on a provisional ba ...