Finance
Govt Clarifies on the merging of CBDT and CBITC
Government of India has put an end to all rumours concerning the proposal to merge the Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs […]
Ministry of Finance
Finance
IT Dept Refunds Rs. 62,361 crore to more than 20 lakh taxpayers
In pursuance to the Government’s decision vide Press Note dated April 8th, 2020 to issue pending income tax refunds in order to help taxpayers in a COVID-19 pandemic situation, the Income Tax Department has issued tax refunds at a speed of 76 cases per minute from 8th April to 30th June, 2020. […]
Finance
Shall make GST Tax Administration simple ensuring Ease of Doing Business: FM
GST Day, 2020 or third anniversary of introduction of GST was marked by CBIC and all its field offices across India on July 01, 2020. GST has been instrumental in Breaking Barriers to build an AatmaNirbhar Bharat and taking forward the motto of One Nation One Tax One Market. […]
Finance
Special Liquidity Scheme for NBFCs and HFCs
With a view to improving the liquidity position of NBFCs as well as HFCs, the Union Minister for Finance & Corporate Affairs Smt Nirmala Sitharamanhad announced on 13th March 2020, launch of a Special Liquidity Scheme of Rs. 30,000 crore. […]
Finance
GST Revenue hits Rs. 90,917crore in June 2020
The gross GST revenue collected in the month of June, 2020 is Rs. 90,917crore of which CGST is Rs. 18,980crore, SGST is Rs. 23,970crore, IGST is Rs. 40,302crore (including Rs. 15,709crore collected on import of goods) and Cess is Rs.7,665 crore (including Rs. 607crore collected on import of goods). […]
Finance
Single window for States to collect stamp duty on securities market instruments
The Amendments in the Indian Stamp Act, 1899 brought through Finance Act 2019 and Rules made thereunder will come into effect from tomorrow, i.e. 1st July, 2020 vide notifications dated 30th March, 2020. […]
Business
Rs 1 lakh crore sanctioned under ECLGS, 30lakh units receive support
Under the 100 % Emergency Credit Line Guarantee Scheme (ECLGS) backed by a Government guarantee , Banks from Public & Private Sectors have sanctioned loans worth over Rs. 1 lakh crore as of June 26, 2020, of which more than Rs 45,000 crore has already been disbursed. […]
Education
Finance Commission meets the HRD Ministry to discuss the impact of Online Education
The Finance Commission headed by Chairman, Shri N. K. Singh today held a detailed meeting with the Ministry of Human Resource Development (MHRD) in which the Minister for HRD. Shri Ramesh Pokhriyal ‘Nishank’ , MOS (MHRD), Shri Sanjay Dhotre and all senior officials of the Ministry were present. […]
Finance
Now file GSTR-1 NIL Form through SMS
In a major move towards GST taxpayers’ facilitation, the Government has decided to provide the facility of SMS filing of NIL statement of FORM GSTR-1from 1st week of July 2020. […]
Finance
Banking Regulation (Amendment) Ordinance promulgated
In pursuance of the commitment to ensure safety of depositors across banks, the President has promulgated the Banking Regulation (Amendment) Ordinance, 2020. […]
Finance
Floating Rate Savings Bonds 2020 introduced
The Government has notified the new Floating Rate Savings Bonds, 2020 (Taxable)Scheme in place of 7.75 percent Savings (Taxable) Bonds, 2018 Scheme which ceased for subscription from the close of banking business on May 28, 2020 […]
Finance
Finance Commission meets Agri Ministry on their Agricultural Reforms agenda
The 15th Finance Commission headed by Chairman, Shri N. K. Singh including its Members today held a meeting with the Minister for Agriculture and Farmers’ Welfare, Shri Narendra Singh Tomar and senior officials of his Ministry. […]
Finance
Finance Commission holds meeting with The Ministry of Rural Development
The 15th Finance Commission headed by Chairman, Shri N. K. Singh including its Members today held a meeting with the Minister for Rural Development, Shri Narendra Singh Tomar and senior officials of his Ministry to garner the view of the Ministry of Rural Development (MoRD) on the general framework given by FC-XV in its report for 2020-21 on the maintenance of Pradhan Mantri Gram Sadak Yojana (PMGSY) roads. […]
Finance
Finance Commission holds meeting with The Ministry of Panchayati Raj
For forming up its recommendations for the years 2020-21 to 2025-26, the Commission today held a detailed meeting with the Ministry of Panchayati Raj (MoPR) headed by Shri Narendra Singh Tomar, the Union Minister of Rural Development, Agriculture and Farmers Welfare & Panchayati Raj. […]
Business
Sub-debt facility released to the promoters distressed or NPA MSMEs
Minister of MSME, Shri Nitin Gadkari today launched the Credit Guarantee Scheme for Sub-ordinate Debt (CGSSD) which is also called “Distressed Assets Fund–Sub-ordinate Debt for MSMEs”. […]
Finance
2% Interest Subvention approved on prompt repayment of Shishu Loans
Union Cabinet chaired by Prime Minister Shri Narendra Modi today approved a scheme for interest subvention of 2% for a period of 12 months, to all Shishu loan accounts under Pradhan Mantri Mudra Yojana (PMMY) to eligible borrowers. […]
Finance
PFC, REC, and IREDA to finance developers at lower interest using locally made equipment
Shri R.K. Singh, Union Minister of Power, New and Renewable Energy and Skill Development and Entrepreneurship (IC) interacted today through video conferencing with developers of generation and transmission projects in Power and Renewable Energy sector. […]
General
Mizoram gets Rs. 79.30 Cr to implement Jal Jeevan Mission
Union Minister of Jal Shakti, Shri Gajendra Singh Shekhawat, in his letter to Chief Minister of Mizoram, has expressed his concerns over the slow progress of Jal Jeevan Mission (JJM) in the State. […]
Finance
Increase in Economic Activity raises Economic Indicators
Guided by the urgent need to save lives -‘Jaanhaitoh Jahan hai’, India resorted to a strict 21 days nationwide lockdown on 24thMarch, 2020 to contain the spread of COVID-19 in its early stages in the country. […]
Business
Banks have sanctioned Rs. 79,000 crore under the Emergency Credit Line Guarantee Scheme
The interventions by Government for MSMEs, have been gaining rapid traction. Under the Emergency Credit Line backed by a Government guarantee, Banks from Public & Private Sectors have so far already sanctioned loansworth over Rs. 79,000 crore as of June 20, 2020, of whichmore than Rs 35,000 crore has already been disbursed. […]
Business
Country of Origin mandatory for GeM requirements
Government e-Marketplace (GeM), a Special Purpose Vehicle under the Ministry of Commerce and Industry,has made it mandatory for sellers to enter the Country of Origin while registering all new products on GeM. […]
Finance
Govt closely monitoring transmission of repo rate cuts
Union Minister for Finance & Corporate Affairs Smt Nirmala Sitharaman while interacting with the Managing Committee Members of PHD Chamber of Commerce and industry through video conferencing today said that the Government has always recognised the importance of wealth creators as they generate employment opportunities and utilise resources in optimal manner for promoting the socio-economic development in the country. […]
Corona Virus
India & AIIB sign an Agreement for $750 Million for COVID-19 support
The Government of India and the Asian Infrastructure Investment Bank (AIIB) here today signed a $750 million “COVID-19 Active Response and Expenditure Support Programme” to assist India to strengthen its response to the adverse impacts of the COVID-19 pandemic on poor and vulnerable households. […]
General
Shekhawat writes to Karnataka CM BSY for implementation of Jal Jeevan Mission
Union Minister of Jal Shakti has congratulated the Chief Minister of Karnataka for efficient handling of the CoVid-19 situation while writing in connection with implementation of Jal Jeevan Mission (JJM) in the State. […]
Finance
e-Office implementation in all CGST and Customs offices
Shri M. Ajit Kumar, Chairman, Central Board of Indirect Taxes, and Customs (CBIC) launched the e-Office application in over 500 CGST and Customs offices across India here today. […]
Finance
GST Council makes recommendations on Law & Procedures
The 40th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today . The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of Finance& States/ UTs. […]
Agriculture & Commodities
Enhanced Import Duty on Bamboo Sticks to give a big boost to Agarbatti and Bamboo Industries
The Central Government’s decision to increase import duty on bamboo sticks from 10% to 25% will open up new avenues of self-employment in the country. […]
Finance
Government rolls out facility of filing of NIL GST Return through SMS
In a significant move towards taxpayer facilitation, the Government has today onwards allowed filing of NIL GST monthly return in FORM GSTR-3B through SMS. […]
Finance
COVID Emergency Credit Facility covers all companies and not just MSMEs
The Finance minister suggested the industry to submit their recommendations related to the ministry of corporate affairs or SEBI deadlines so that necessary steps could be taken related to COVID Emergency Credit Facility […]
Finance
Centre Releases Rs.36,400 Crore as GST Compensation to States
The GST Compensation of Rs.1,15,096 crore for period April-November, 2019 had already been released by the Central Government to the States/ UTs with Legislature. […]
Finance
GST late fee to be discussed in the next GST Council meeting
Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting […]
Finance
Cabinet approves extension of repayment date for short term loans
abinet approves extension of repayment date for short term loans for agriculture and allied activities by banks which have become due or shall become due between 1st March, 2020 and 31st August, 2020 […]
General
Finance Commission holds a meeting with the Ministry of Environment, Forest and Climate Change
Finance Commission holds a meeting with the Ministry of Environment, Forest and Climate Change on Issues Related to Air Quality in Urban Areas and Possible Interventions by Fifteenth Finance Commission […]
Finance
Govt approves 445 Cr for Jal Jeevan Mission in Chhattisgarh
Govt of India approves Rs 445 Crore for implementation of Jal Jeevan Mission in Chhattisgarh during 2020-21 […]
Finance
Finance Commission meeting Power Ministry
The Finance Commission held a detailed meeting with the Power Ministry on issues relating to the Reforms of the Electricity Sector in the States. […]
Finance
ADB, India sign $177M loan for infrastructure in Maharashtra
Asian Development Bank, S, India sign $177 million loan for state road improvements in Maharashtra […]
Finance
PAN now available instantly by the of Aadhar based e-KYC
Smt. Nirmala Sitharaman formally launched the facility for instant allotment of PAN using Aadhar Card based eKYC verification […]
Finance
22nd Meeting of the Financial Stability and Development Council held today
Smt. Nirmala Sitharaman chairs 22nd Meeting of the Financial Stability and Development Council (FSDC) […]
Finance
Mr. Marcos Troyjo from Brazil takes over K V Kamath as President of NDB alee FM
Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the Special Board of Governors meeting of the New Development Bank (NDB) through video-conference […]
Markets
7.75 percent Savings (Taxable) Bonds of 2018 cease to exists
The Government of India hereby notifies that the 7.75 percent Savings (Taxable) Bonds, 2018 hall cease for subscription with effect from Thursday, the 28th of May, 2020. […]
Business
Government Trusts Industry Fully and Comprehensively: Nirmala Sitharaman
Smt Nirmala Sitharaman has stressed that the Government trusts industry fully and comprehensively. […]
Business
PM Modi approves Special Liquidity Scheme for NBFCs/HFCs
Cabinet approves Special Liquidity Scheme for NBFCs/HFCs to address their Liquidity Stress […]
Finance
CBDT decided to implement new procedure for approval/ registration/notification of certain entities
The CBDT decided to implementation of a new procedure for approval/ registration/notification of certain entities shall be deferred to 1st October, 2020. […]
Finance
Smt. Nirmala Sitharaman launches INR-USD Futures and Options contracts in International Exchanges
Nirmala Sitaraman launches INR-USD Futures & Options contracts on Intl Exchanges, viz BSE’s India INX & NSE IFSC, at GIFT International Financial Services. […]
Business
Nitin Gadkari held meeting with Events and Entertainment Management Association
Shri Gadkari asks Event and Entertainment Management Industry and The Small Financing Enterprises to Remain Positive and Explore Tapping The Present Situation […]
Finance
Customs Exchange Rate Notification
Taxes and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified […]
Finance
39 crore people received financial assistance of Rs 34,800 crore under PMGKP
May 06: Using the digital payment infrastructure, around 39 crore poor people received financial assistance of Rs 34,800 crore under the Pradhan Mantri Garib […]