Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman inaugurated the first-ever National Conference of Enforcement Chiefs of the State and the Central GST Formations, in New Delhi, today. The conference provided one more step towards facilitating understanding and streamlining operations of the tax authorities in enforcement actions undertaken by different indirect tax authorities. Union Minister of State for ...
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Financial Intelligence Unit-India (FIU-IND) imposes penalty of Rs. 5,49,00,000 on Paytm Payments Bank Ltd with reference to violations of its obligations under PMLA
The Financial Intelligence Unit-India (FIU-IND), in furtherance of the powers conferred upon the Director FIU-IND under Section 13(2)(d) of the Prevention of Money Laundering Act (PMLA), 2002, has imposed a monetary penalty of Rs. 5,49,00,000 (rupees five crore forty nine lakh) on Paytm Payments Bank Ltd with reference to the violations of its obligations under the PMLA read with the ...
Read More »37.4% INCREASE IN CAPITAL EXPENDITURE TO 10 LAKH CRORE IN BE 2023-24
Investments in infrastructure and Productive capacity have a large multiplier impact on growth and employment” said the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman in Parliament today while presenting the Union Budget 2023-24. Capital Investment as a driver of growth and jobs To ramp the virtuous cycle of Investment and job creation the budget took lead again by ...
Read More »ECONOMIC SURVEY 2022-23 PROJECTS A BASELINE GDP GROWTH OF 6.5 PER CENT IN REAL TERMS IN FY24
India to witness GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, depending on the trajectory of economic and political developments globally. The optimistic growth forecasts stem from a number of positives like the rebound of private consumption given a boost to production activity, higher Capital Expenditure (Capex), near-universal vaccination coverage enabling people to spend ...
Read More »2nd highest Gross GST collection in January 2023, breaching earlier 2nd highest record in the Month of October 2022
The gross GST revenue collected in the month of January 2023 till 5:00 PM on 31.01.2023 is Rs 1,55,922 crore of which CGST is Rs 28,963 crore, SGST is Rs 36,730 crore, IGST is Rs 79,599 crore (including Rs 37,118 crore collected on import of goods) and cess is Rs 10,630 crore (including Rs 768 crore collected on import of goods). The Government has settled Rs 38,507 crore to ...
Read More »India Post Payment Bank
India Post Payments Bank (IPPB) is a scheduled payment bank offering a range of products such as savings and current accounts, remittances and money transfer, direct benefit transfer, bill and utility payments, enterprise & merchant payments and Aadhar Enabled Payment System (AePS). These products and related services are being offered across multiple channels e.g. Counter Services, Micro – ATM, Mobile ...
Read More »Exchange Rate Notification No. 66/2022 – Customs (N.T.)
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No. 64/2022-Customs(N.T.), dated 21st July, 2022 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of each ...
Read More »GST Revenue collection for July second highest ever & 28% higher than the revenues in the same month last year
The gross GST revenue collected in the month of July 2022 is ₹1,48,995 crore of which CGST is ₹ 25,751 crore, SGST is ₹ 32,807 crore, IGST is ₹ 79,518 crore (including ₹ 41,420 crore collected on import of goods) and cess is ₹ 10,920 crore (including ₹ 995 crore collected on import of goods). This is second highest revenue since introduction of GST. The government ...
Read More »Coal Royalty to Different States During the last Ten Years
The details of royalty given on coal to various States during last 10 years, year and State-wise is as under: Amount in crores Name of the State 2011-12 2012-13 2013- 14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 Chhattisgarh 1236.19 1766.3 1887.36 1804.93 1856.86 1959.74 2319.56 2632.19 2350.21 2292.88 Jharkhand 1681.32 2129.66 2169.18 2213.03 2659.04 2819.89 3715.5 3778.78 3211.03 ...
Read More »SUMMARY OF UNION BUDGET 2022-23
India’s economic growth in the current year is estimated to be 9.2 per cent, highest among all large economies. The overall, sharp rebound and recovery of the economy from the adverse effects of the pandemic is reflective of our country’s strong resilience. This was stated by Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman while presenting the Union ...
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