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1 day ago
Increased customs duty a statutory industry-wise hike: Apple

New Delhi, Dec 16 (IANS) The government's decision to hike the customs duty from 10 per cent to 15 per cent for mobile handsets is a statutory industry-wise hike, Apple India said on Saturday. There is no comment on this as it's a statutory industry-wise duty hike, an Apple official told IANS. The notification issued by the Department of Revenue under the Finance Ministry said c...

1 day ago
GST Council nod for mandatory e-Way Bill for inter-state goods movement

New Delhi, Dec 16 (IANS) For a seamless movement of goods across states, the Goods and Services Tax (GST) Council on Saturday decided to go for early implementation of e-Way Bill for inter-state movement of items from February 1 and uniform mandatory compliance from June one next year. The rules for implementation of nationwide e-way Bill system for inter-State movement of goods on a com...

2 days ago
Customs duty on mobile phones increased to 15%, to hurt Apple

New Delhi, Dec 15 (IANS) The government has increased customs duty on various items including mobile phones, a finance ministry notification said here -- a move that will hurt the Cupertino-based giant Apple the most. The notification issued by the Department of Revenue under the Finance Ministry that came late on Thursday said customs duty will go up from 10 per cent to 15 per cent for ...

2 days ago
Bankruptcy Board issues standards guidelines for info utilities

New Delhi, Dec 15 (IANS) The Insolvency and Bankruptcy Board of India (IBBI) has issued guidelines for technical standards to be followed by information utilities, according to an official announcement on Thursday. A Finance Ministry release here said the guidelines for technical standards for various core services issued by the IBBI include for the consent framework for providing access...

3 days ago
JICA to provide Rs.1,200 crore loan for Andhra project

Hyderabad, Dec 13 (IANS) The Japan International Cooperation Agency (JICA) will provide Rs 1,200 crore loan to Andhra Pradesh for an irrigation and livelihood improvement project, it was announced on Wednesday. The JICA signed an agreement with the Indian government on Wednesday to provide Official Development Assistance (ODA) loan of 21,297 million Japanese Yen (approximately Rs 1,200 c...

4 days ago
Deadline to link Aadhaar with bank accounts extended till March 31

New Delhi, Dec 13 (IANS) The deadline to link the Aadhaar number with bank accounts has been extended by three months till March 31, the government announced on Wednesday, as the Supreme Court is set to commence hearing from Thursday on its mandatory linking to various schemes. The deadline was earlier December 31 for linking the 12-digit unique identification number with both Permanent ...

4 days ago
Dec 31 deadline to link Aadhaar with banks, PAN goes

New Delhi, Dec 13 (IANS) The December 31 deadline to link the 12-digit Aadhaar number with bank accounts and Permanent Account Number (PAN) has been lifted, the government announced on Wednesday. A notification to this effect was issued on Tuesday by the Department of Revenue under the Finance Ministry. According to the notification, the words submit the Aadhaar number and PAN by...

5 days ago
Centre tells SC it will set up 12 courts to try lawmakers, politicians

New Delhi, Dec 12 (IANS) The Centre on Tuesday informed the Supreme Court that it has decided to set up 12 special courts to deal exclusively with criminal cases against lawmakers and politicians. In an affidavit filed in the Supreme Court, the Centre said a scheme has been framed for setting up these courts to dispose off cases against political persons. The scheme for a one-yea...

6 days ago
Government realised fiscal deficit targets: Jaitley

New Delhi, Dec 11 (IANS) The government has realised its fiscal deficit targets and is on course to achieve it for the current year, Finance Minister Arun Jaitley said at a pre-budget consultation meet here on Monday, even as economists present at the meeting suggested lowering of the country's corporate tax rates. Jaitley said the government had met its fiscal targets by rationalising ...

6 days ago
NSUI slams IGNOU fee hike

New Delhi, Dec 11 (IANS) The National Students' Union of India (NSUI) on Monday criticised the fee hike in the Indira Gandhi National Open University (IGNOU) and ascribed the move to the grant-cut policy of the BJP government. This is going to make accessibility to higher education difficult for children from the weaker sections, the Congress-affiliated students' body said in a statement...

6 days ago
Delhi-Kolkata, Delhi-Mumbai rail routes to be fenced for high-speed run

New Delhi, Dec 11 (IANS) Indian Railways will soon bring for cabinet clearance an ambitious, Rs 18,000 crore ($3 billion) plan that involves fencing off the existing Delhi-Kolkata and Delh-Mumbai routes to speed up train movement in the country's two busiest corridors. Besides fencing, the proposal involves track and signalling upgrades and elimination of unmanned level-crossings along t...

7 days ago
Bankruptcy Board notifies regulations for complaint redressal

New Delhi, Dec 10 (IANS) The Insolvency and Bankruptcy Board of India (IBBI) on Sunday notified the regulations to deal with complaints and grievances filed against service providers including insolvency professionals, agencies and information utilities. The regulations are effective from December 7, a Finance Ministry release said here, adding they provide for an objective and transpare...

7 days ago
Rs 50 cr in banned notes seized in Gujarat on poll day

New Delhi, Dec 10 (IANS) The Directorate of Revenue Intelligence (DRI) has recovered nearly Rs 50 crore in the banned currency of Rs 500 and Rs 1,000 denomination in Gujarat on election day, the Union Finance Ministry said on Sunday. The scrapped notes were seized on Saturday during the first phase of assembly elections in the state. Acting on a specific intelligence, the officer...

8 days ago
Law Review Committee to take final view on GST suggestions

New Delhi, Dec 8 (IANS) The recommendations of an advisory group on the Goods and Services Tax (GST) have been referred to the Law Review Committee for a final view on the matter, an official said on Friday. The advisory group submitted its recommendations on Tuesday, a Finance Ministry release said here. The recommendations of the Advisory Group have been referred to the Law Re...

8 days ago
Next SGB issue price fixed at Rs 2,890 per gram

New Delhi, Dec 8 (IANS) The issue price of the next offering of the Sovereign Gold Bond (SGB) scheme opening on Monday, (December 11) has been fixed at Rs 2,890 per gram, an official statement said. According to the Finance Ministry statem,ent, the next subscription period for Series III of SGBs 2017-18 will commence from December 11 to 13, with settlement date fixed on December 18. <...

9 days ago
Aircel-Maxis case: SC to hear Karti's plea for quashing CBI, ED summons

New Delhi, Dec 8 (IANS) The Supreme Court on Friday said it will hear in January a plea by Karti Chidambaram, son of former Finance Minister P. Chidambaram, seeking the quashing of CBI and ED summons in the Aircel-Maxis case. Alleging that Central government was misusing its agencies to harass him, Karti Chidambaram also sought the quashing of the order of provisional attachment. ...

9 days ago
Income Tax official suspended for demanding bribe

New Delhi, Dec 8 (IANS) The Central Board of Direct Taxes (CBDT) has suspended a senior Income Tax Department official of the Gujarat region for allegedly demanding a bribe from an assessee, an official said on Friday. The CBDT has put under suspension Deputy Commissioner of Income Tax D.K. Meena, posted at Surendranagar in the department's Gujarat region for harassing a taxpayer in a sc...

9 days ago
Deadline for linking Aadhaar with PAN extended till March 31

New Delhi, Dec 8 (IANS) The government on Friday extended the deadline for linking Aadhaar with PAN by three more months, till March 31, 2018. The earlier deadline was December 31, 2017. It has come to notice that some of the taxpayers have not yet completed the linking of PAN with Aadhaar. Therefore, to facilitate the process of linking, it has been decided to further extend th...

9 days ago
FRDI Bill will protect depositors' interests: Government

New Delhi, Dec 7 (IANS) The proposed Financial Resolution and Deposit Insurance (FRDI) Bill is designed to protect the rights of depositors, the government said on Thursday. The bill, which seeks to deal with the insolvency of financial service providers, had been tabled in August in the Lok Sabha and has currently been referred to a Joint Committee of Parliament, a Finance Ministry stat...

10 days ago
Health Ministry seeks lower GST on medical services

New Delhi, Dec 7 (IANS) The Union Health Ministry has written to the Finance Ministry seeking reduction in GST rates for medical products and services either to five per cent or zero, informed sources said on Thursday. The letter was sent a couple of weeks ago after diagnostic centres and hospitals threatened to increase charges of services. Before the implementation of the Goods...

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