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Sitharaman and Wickremesinghe discussed India-Sri Lanka joint initiatives in the economic and commercial sphere

Nirmala Sitharaman meets Sri Lankan president Wickremesinghe, assures help in matters related to debt...

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Help to boost Sri Lanka economy will go on: FM Nirmala Sitharaman During her visit to Sri Lanka, Finance Minister Nirmala Sitharaman met President Ranil...
A host of online gaming, like Dream11, and casino operator, like Delta Corp, have received GST show cause notices last month for alleged short payment of taxes

GST authorities issue Rs.1 lakh crore show cause notice to online gaming companies

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Online gaming firms face GST hurdle over tax evasion The Goods and Services Tax (GST) authorities issued show cause notices demanding as much as Rs.1...
As many as 91 fraudsters have been apprehended in connection with these cases

DGGI detects fake input tax claims worth Rs.14,000 crore in FY23-24

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In 2023-24, Rs.1.36 lakh crore has been detected as overall GST evasion The Directorate General of GST Intelligence (DGGI) has detected a total of 1,040...
The decision was taken after it was found that Chinese exporters were exporting steel products to other countries at a highly reduced price

Centre imposes anti-dumping duty on select Chinese steel for 5 years

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India clamps down on Chinese steel The Centre has imposed an anti-dumping duty on some Chinese steel for five years after it was found that...
The decision to remove these duties on American products was taken through a Finance Ministry notification dated September 5

India removes additional duties on several US products ahead of Biden’s visit for G20...

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India drops tariff hikes on US almonds, chickpeas, apples, walnuts and lentils As US President Joe Biden is set to arrive on a three-day visit...
Issues related to Indian and US priorities in addressing global debt challenges, joint efforts to advance the clean energy transition were discussed

India, US discuss G20 cross-border payments, global debt challenges

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India & US talk on G20 cross-border payments and global debt challenges India and the US have held wide-ranging discussions on cross-border payments issues including...
On July 11, the GST council decided that there will be a 28 percent GST levy on full value of gaming, horse racing and casinos

GST council to take final call on 28% levy on online gaming, casinos &...

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Key decision on 28% tax on online gaming expected in today’s GST council meeting On Wednesday, the GST council will take a final call on...
In a separate reply, Karad said 66,069 frauds were reported in 2022-23 causing a loss of Rs.85.25 crore

Top 50 wilful defaulters owe Rs.87,295 crore to banks. Mehul Choksi’s Gitanjali Gems is...

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With unpaid dues of Rs.8,738 cr, Mehul Choksi tops the list of wilful defaulters The Finance Ministry on Tuesday said the top 50 wilful defaulters...
In 2020-21, as many as 12,596 cases of GST evasion were detected, while in 2022-23, the cases rose by 23.5 percent to 15,562

GST evasion cases surge 23.5% in 2 years; 166% rise in detection in value...

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In 2022-23, Rs.33,226 cr were recovered in terms of GST evaded from 15,562 cases detected As per Finance Ministry data, there has been a rise...
Taxpayers have to file the returns for 2022-23 with the assessment year being 2023-24

Deadline to file IT returns won’t be extended; Govt urges taxpayers to file returns...

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ITR: Govt not contemplating extension of July 31 deadline The government has urged taxpayers to file their income tax returns before July 31, 2023, to avoid...

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