Issuance Calendar for Marketable Dated Securities for 19th October 2020– 31st March 2021 Ministry of Finance To operationalize the Special Window to States for meeting the GST Compensation Cess shortfall of` ₹1,10,000 crore the GoI borrowing calendar is being modified in consultation with RBI. For the remaining period of the fiscal year 2020-21 (October 19,…
Twenty States allowed to mobilize Rs.68,825 crore
Twenty States allowed to mobilize Rs.68,825 crore Ministry of Finance The Department of Expenditure, Ministry of Finance, has today granted permission to 20 States to raise an additional amount of Rs.68,825 crore through open market borrowings. Additional borrowing permission has been granted @ 0.50 % of the Gross State Domestic Product (GSDP) to those…
Income Tax Department Refunded Rs. 62,361 crore to more than 20 lakh taxpayers amid COVID-19 pandemic
Income Tax Department Refunded Rs. 62,361 crore to more than 20 lakh taxpayers amid COVID-19 pandemic Ministry of Finance 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…
GST Revenue collection for June, 2020Rs. 90,917crore gross GST revenue collected in the month of June
GST Revenue collection for June, 2020Rs. 90,917crore gross GST revenue collected in the month of June Ministry of Finance 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…
Finance Minister announces short term and long-term measures for supporting the poor, including migrants, farmers, tiny businesses and street vendors
Ministry of Finance • Free food grains supply to Migrants for 2 months.• Technology system to be used enabling Migrants to access PDS(Ration) from any Fair Price Shops in India by March,2021-One Nation one Ration Card• Scheme for Affordable Rental Housing Complexes for Migrant Workers and Urban Poor to be launched• 2% Interest Subvention for…
Finance Minister announces short term and long-term measures for supporting the poor, including migrants, farmers, tiny businesses and street vendors
Finance Minister announces short term and long-term measures for supporting the poor, including migrants, farmers, tiny businesses and street vendors Ministry of Finance Hon’ble Prime Minister announced a Special economic and comprehensive package of Rs 20 lakh Crore - equivalent to 10% of India’s GDP on 12th May 2020. He gave a clarion call for आत्मनिर्भर भारत अभियान or Self-Reliant…
Shri Nitin Gadkari emphasizes on Agro, Fishing and Forest MSMEs for manufacturing products using local raw material
Shri Nitin Gadkari emphasizes on Agro, Fishing and Forest MSMEs for manufacturing products using local raw material Ministry of Micro,Small & Medium Enterprises Union Minister for MSME and Road Transport and Highways Shri Nitin Gadkari has emphasized on exploring Agro MSME, Fishing MSMEs, and Forest MSMEs for manufacturing products using local raw material. Shri Gadkari…
Finance Ministry issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 today
Ministry of Finance In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought in an Ordinance on 31.03.2020 which provides for extension of various time limits…
New Due Date list GSTR3B , GSTR1 , GSTR9 and GSTR9c
GSTR3B Notification as per Notification no 29/2020 dt. 23.03.2020(for April,2020 to Sep 2020)The last date for filing of GSTR-3B for the taxpayers having annual turnover of Rs 5 crore and above in the previous financial year would be 20th of the month.The taxpayers having annual turnover below Rs 5 crore in previous financial year will be…
39th GST Council Meeting | Changes in Law & procedure
Ministry of Finance Recommendations of GST council related to law & procedure The 39th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman here today . The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States…