Government is contemplating to revise the tax treaties with partner countries to enable the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) to use the data for prosecution of those who have stashed black money abroad. Treaty partner countries have been requested to modify the tax treaties, so as to explicitly include provisions that will enable information exchanged for tax purposes to be utilized for other purposes, including criminal proceedings in non-tax matters. 40 treaties for avoidance of double taxation have been revised accordingly. In addition, India has also signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which alsoRead More
Government of India have announced the Sale (re-issue) of (i) “6.84 per cent Government Stock 2022” for a notified amount of Rs. 2000 crore (nominal) through price based auction, (ii) “6.97 per cent Government Stock 2026” for a notified amount of Rs. 5,000 crore (nominal) through price base oud auction, (ii) “7.73 per centRead More
The Fiscal Responsibility and Budget Management (FRBM) Committee headed by Shri N.K. Singh, former Revenue and Expenditure Secretary and former Member of Parliament presented its Report to the Union Finance Minister Shri Arun Jaitley today in his (FM) office in North Block in the national capital. Other Members of the Committee including Dr.Read More
The Union Government has been assisting the State Governments and providing “Special Assistance” with a view to expediting their completion of area specific Schemes. This assistance is provided in view of the Government of India’s commitment to fulfilling the development agenda in backward region notwithstanding the fact that the StateRead More
15th Meeting of the GST Council to be held tomorrow, 3rd June, 2017 – Approval of amendments to the draft GST Rules and related forms and Finalisation of the rates of tax and cess on the remaining commodities are on the Agenda among others for tomorrow’s meeting.
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