Nirmala Sitharaman News

02.08 / 14:19

Action GST Council meet: 28% tax on online gaming to become effective from Oct 1, says FM Sitharaman, to review after 6 months

GST Council meeting. "Delhi, Goa, Sikkim seek review of 28% online gaming tax, says Finance Minister Nirmala Sitharaman after GST Council meeting.

02.08 / 14:19

Action Racing GST Council Meet Today; Will Online Gaming, Gambling Taxed At The Same Rate? | In Focus

Finance Minister Nirmala Sitharaman will chair the... moreFinance Minister Nirmala Sitharaman will chair the GST Council meeting today.

02.08 / 13:55

UPS awards settlement Centre Centre launches contractual dispute settlement scheme

settlement scheme for contractual disputes with vendors or suppliers to government and has set October 31 as the deadline for submitting claims for consideration. The scheme was announced by the Finance Minister Nirmala Sitharaman in budget this year.

02.08 / 13:49

UPS Provident Platform awards cover Centre Centre launches Vivad se Vishwas 2.0 scheme to settle contractual disputes

New Delhi: To provide a much-needed impetus to the resolution of contractual disputes involving the government and government undertakings, the Department of Expenditure, Ministry of Finance, launched the “Vivad se Vishwas 2" scheme on Wednesday. The move is aimed at promoting ease of doing business and will cover disputes up to 30 September 2022. Finance minister Nirmala Sitharaman had announced in the budget that in order to settle contractual disputes involving the government and government undertakings, where an arbitral award is under legal challenge, a voluntary settlement scheme with standardized terms will be introduced.

02.08 / 10:27

UPS Provident Target Explainer Mint Explainer: Why does the outlook for union govt’s finances remain positive?

Mint explains why. In the first quarter of FY24 the government’s fiscal deficit widened to ₹4.51 trillion, or 25.3% of annual estimates, up from 21.2% a year ago. This was largely due to a sharp increase in capital expenditure and accelerated tax devolution to state governments, which offset the increase in non-tax revenue.

02.08 / 09:17

COST Citi Digital Aware Entertainment Record 82,628 companies, LLPs incorporated between April and July: MCA

Ministry of Corporate Affairs (MCA) said on Wednesday. Similarly, as many as 1.96 million forms were filed on the MCA21 (Version 3, or V3) portal between April and July, it said in a series of tweets.

02.08 / 07:09

UPS Provident Platform Racing Entertainment cover GST Council meet today: Here is what to expect

indirect tax body, the Goods and Services Tax (GST) Council, will on Wednesday finalize the fine print of the indirect tax regime covering online gaming, casinos and horse racing and put in place ways to check any tax evasion. Mint takes a look at what to expect and why online gaming platforms are up in arms. The GST Council, led by union finance minister Nirmala Sitharaman, will meet virtually to discuss and approve the amendments to Central GST (CGST) Act and the respective state GST (SGST) laws to give effect to the decision taken at its meeting last month regarding taxation of online gaming, casinos and horse racing.

01.08 / 13:39

UPS Provident Target Borrowing Centre’s gross market borrowing hits Rs 5.77 lakh cr until July this fiscal: FM

government has raised more than 37% of its FY24 target of gross market borrowing through dated securities in the first four months, finance minister Nirmala Sitharaman informed Parliament on Tuesday. It has mobilised gross and net borrowing amount of Rs 5.77 lakh crore and Rs 4.18 lakh crore, respectively, through dated securities up to July 31 this fiscal, the minister said in a reply in the Rajya Sabha. The net borrowing (through dated papers alone) was over 35% of the FY24 target until end-July.

01.08 / 10:49

Citi Lowe's NASDAQ NYSE country Explainer Mint Explainer: What is direct overseas listing and how will it benefit firms?

Nirmala Sitharaman said the government has decided to allow companies to list at the International Financial Services Center (IFSC) GIFT City to start with before expending this to other countries. Generally, companies incorporated and operating in a country are listed on local stock markets. However, some new-age companies require sophisticated investors who are willing to take big risks.

31.07 / 18:01

UPS Strategy debate Opposition running away from debate on Manipur: BJP

BJP has alleged that the Opposition was running away from a discussion on the Manipur issue even as the logjam in Parliament continued with the opposition insisting on a discussion under Rule 267 in which the PM may have to make a statement. «The Opposition doesn't want this discussion to take place. There must be some reason why they are running away from a discussion,» Piyush Goyal, leader of the house in the Rajya Sabha, told media persons in Parliament.

31.07 / 15:01

UPS Provident Opposition shifting goalposts, creates disturbance when PM Narendra Modi speaks: BJP on demand for PM's statement

BJP on Monday slammed its demand for Prime Minister Narendra Modi's statement as a case of «shifting goalposts» and noted that its members have frequently disturbed him when he has spoken in Parliament in the past. It is clear that the opposition has been shedding «crocodile tears» over the situation in the state, Finance Minister Nirmala Sitharaman told reporters as both Houses of Parliament were adjourned following uproar over the demand by INDIA bloc parties that Modi should speak on the issue first before any discussion.

31.07 / 13:31

UPS Enterprise Discover exclusive businesses GST Council should discuss burden on small businesses, tax frauds: Amit Mitra

New Delhi: Federal indirect tax body, the Goods and Services Tax (GST) Council should discuss the compliance burden on small businesses and the extent of fraud that is taking place around GST, Amit Mitra, principal chief advisor to West Bengal chief minister Mamata Banerjee urged the union finance minister and GST Council Chairperson Nirmala Sitharaman. In a letter written to Sitharaman on Friday, Amit Mitra has said he has deep concerns about the GST related frauds taking place and the “web of regulations" which he said was overpowering for micro, small and medium enterprises.

31.07 / 11:07

Target Action track electronic GST evasion of Rs 14,302 crore detected in April-May; 28 persons arrested

GST evasion involving Rs 14,302 crore were detected in the first two months of the current fiscal, while Rs 5,716 crore was recovered during the period, Parliament was informed on Monday. Finance Minister Nirmala Sitharaman in a written reply in the Lok Sabha gave details of Goods and Services Tax (GST) and income tax evasion, as well as detection of outright smuggling by the Customs department. As per the data, GST evasion of over Rs 2.68 lakh crore was detected in 43,516 cases between 2020-21 and 2023-24 (April-May).

31.07 / 08:43

Manufacturing country Explainer Mint Explainer: Why the govt wants higher import duty on LPG, propane and butane

New Delhi: Finance Minister Nirmala Sitharaman will move a resolution in parliament on Monday to approve notifications seeking to increase import duty on liquified petroleum gas (LPG), propane and butane by amending the First Schedule of Customs Tariff Act. Mint explains the significance of the move. The government wants to increase import duties on certain products to reduce import bills, protect domestic industries, and generate employment.

30.07 / 16:33

Provident social Department Over 6 crore ITRs filed till 6.30 pm today: Income tax department

I-T department tweeted. The number of ITRs filed has exceeded the number of returns filed last year till July 31. The department also said more than 1.30 crore successful logins were there on the e-filing portal till 6.30 pm, Sunday.

30.07 / 13:45

Department 5.83 crore ITRs filed till 1 pm today: Income tax department

Income taxdepartment on Sunday said as many as 5.83 croreincometax returns (ITRs) have been filed for fiscal year 2022-23, thus crossing the number of ITRs filed till July 31 last year.

30.07 / 12:27

UPS Aware Action Software TCS Simplify income tax so that what’s due is clear

As the last date for filing income tax returns arrives, the scramble to get documents in order and meet the 31 July deadline reminds us of how little has changed over the years. With the authorities cracking down on non-filers and false-claim makers, taxpayer anxiety over potential errors that may invite penal action has gone up. Of course, it is the government’s responsibility to ensure truthful reporting and catch tax evaders.

30.07 / 07:55

UPS Provident ETF Pool country FM Nirmala Sitharaman inaugurates backstop facility for mutual funds

Finance Minister Nirmala Sitharaman on Friday inaugurated the Corporate Debt Market Development Fund (CDMDF) and initiated the muhurat trading in the Limited Purpose Clearing Corporation mechanism — AMC Repo Clearing Limited (ARCL).

28.07 / 17:23

CEO Platform foreign Indian Govt allows direct listing by Indian cos on foreign exchanges; what does it mean for India Inc?

International Financial Service Centre (IFSC) has been lauded by market mavens, as they believe this will attract investments and growth capital. While speaking at the launch event of AMC Repo Clearing and a corporate debt market development fund on Friday, Finance Minister Nirmala Sitharaman made the announcement. «A direct listing of securities by domestic companies will now be permissible in foreign jurisdictions…This will facilitate access to global capital and better valuation,” Sitharmanan said.

28.07 / 11:18

Indian Indian companies will soon be allowed to directly list their shares overseas: FM Sitharaman

Finance Minister Nirmala Sitharaman on Friday said domestic companies can now go in for direct listing on foreign exchanges and the International Financial Services Centre (IFSC) in Ahmedabad.

28.07 / 10:25

Twitter social Time Income Tax Refund in 12 hours! ITR processing time reduced as taxpayers file in record numbers

Income Tax Refund News: Income Tax Refund processing time has become fast. But how fast? While taxpayers, who filed their returns for AY 2023-24 had to wait for a few weeks for the processing of refunds, many return filers in July received their refunds within a few days. On Thursday, a taxpayer on social media claimed he received his tax refund within 12 hours.

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