finance ministry

No interest on interest for loans up to Rs 2 crore during moratorium: FinMin

No interest on interest for loans up to Rs 2 crore during moratorium: FinMin

The Ministry of Finance has approved a scheme to provide relief in interest compounding to borrowers for the six-month loan moratorium pe...Read More

Will borrow to bridge GST shortfall of states due to pandemic

Will borrow to bridge GST shortfall of states due to pandemic

The Centre has finally yielded to the states in the running feud over who borrows funds to cover up the shortfall in the Goods and Servic...Read More

Taxpayers will have to report only transactions pertaining to FY19 in annual GST return: FinMin

Taxpayers will have to report only transactions pertaining to FY19 in annual GST return: FinMin

The finance ministry on Friday said taxpayers are required to report in the annual GST return of 2018-19 only the values of transactions ...Read More

India may have crossed peak of COVID-19 caseload: Finance Ministry

India may have crossed peak of COVID-19 caseload: Finance Ministry

India may have crossed the peak of the COVID-19 pandemic in September as the number of daily cases have significantly decreased in past o...Read More

Finance Ministry may provide capital support to some PSBs in third quarter

Finance Ministry may provide capital support to some PSBs in third quarter

The Finance Ministry is likely to provide capital support from the Rs 20,000 crore fund approved by Parliament in recently concluded sess...Read More

FinMin says no requirement of scrip-wise reporting for short-term sale or purchase of listed shares

FinMin says no requirement of scrip-wise reporting for short-term sale or purchase of listed shares

The Finance Ministry on Saturday said there is no requirement of scrip-wise reporting in the I-T returns form for day trading or short-te...Read More

Total government liabilities rise to Rs 101 lakh crore in Q1: Finance Ministry report

Total government liabilities rise to Rs 101 lakh crore in Q1: Finance Ministry report

Total liabilities of the government increased to Rs 101.3 lakh crore at end-June 2020 from Rs 94.6 lakh crore at end-March 2020, accordin...Read More

GST rate on cars lower than pre-GST regime; auto cos should cut royalty payments: FinMin sources

GST rate on cars lower than pre-GST regime; auto cos should cut royalty payments: FinMin sources

Most globally established companies in the sector have flourished in the current taxation and regulatory regime, which is evident from th...Read More

20 CPSEs, units in pipeline for strategic sale: FinMin

20 CPSEs, units in pipeline for strategic sale: FinMin

In a written reply to a question in the Lok Sabha, Singh said the government follows a policy of disinvestment through strategic stake sa...Read More

Govt seeks Parliament nod for Rs 20,000 cr capital infusion in public sector banks

Govt seeks Parliament nod for Rs 20,000 cr capital infusion in public sector banks

This is part of the first batch of Supplementary Demands for Grants for 2020-21 moved by Finance Minister Nirmala Sitharaman in the Lok S...Read More

Banks' NPAs in large industry, services fall 31 pc in over two years to Rs 4.36 lakh cr

Banks' NPAs in large industry, services fall 31 pc in over two years to Rs 4.36 lakh cr

On whether the non-performing assets (NPAs) of big industries and corporate houses have increased sharply as compared to small businesses...Read More

FinMin reaches out to states again, says entire GST dues to be paid

FinMin reaches out to states again, says entire GST dues to be paid

Sources in the Finance Ministry said that the entire shortfall of compensation to the states -- irrespective of whether it is on account ...Read More

Centre can’t borrow against GST cess: Finance ministry

Centre can’t borrow against GST cess: Finance ministry

The Centre and opposition-ruled states are at loggerheads over the financing of the Rs 2.35 lakh crore GST shortfall in the current fisca...Read More

Country witnessing V-shaped recovery: Finance Ministry

Country witnessing V-shaped recovery: Finance Ministry

The finance ministry said the country is witnessing a V-shaped economic recovery and attributed the steep 23.9 per cent contraction of th...Read More

GST collection drops for second month in Aug to Rs 86,449 cr

GST collection drops for second month in Aug to Rs 86,449 cr

The GST collection declined for the second consecutive month in August to Rs 86,449 crore, the Finance Ministry said on Tuesday. On year-...Read More

GST collection hit by by pandemic: Shortfall of Rs 2.35 lakh crore and Rs 1.5 lakh crore due to states

GST collection hit by by pandemic: Shortfall of Rs 2.35 lakh crore and Rs 1.5 lakh crore due to states

A day after many oppsition Chief Minister aired their grievances when it came to the GST compensation due to the states, the Finance Mini...Read More

Oil companies struggle to spend; not as per Finance Ministry's wishes

Oil companies struggle to spend; not as per Finance Ministry's wishes

State-owned oil companies are struggling to keep up the momentum over their planned capital expenditure for the current fiscal as the Cov...Read More

GST reduced tax rates, doubled taxpayer base to 1.24 cr: Finance Ministry

GST reduced tax rates, doubled taxpayer base to 1.24 cr: Finance Ministry

The Finance Ministry on Monday said GST has reduced the rate at which people have to pay tax, helped increase compliance and doubled taxp...Read More

Good news for companies: Finance Ministry exempts businesses with annual turnover of up to Rs 40 lakh from GST

Good news for companies: Finance Ministry exempts businesses with annual turnover of up to Rs 40 lakh from GST

Businesses with an annual turnover of up to Rs 40 lakhs are Goods and Services Tax (GST) exempt and those with a turnover up to Rs 1.5 cr...Read More

FinMin working on norms for salaries of retired central govt officials re-appointed on contract

FinMin working on norms for salaries of retired central govt officials re-appointed on contract

The finance ministry is working on norms to regulate salary paid to retired central government employees re-appointed on contract and has...Read More

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