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tax rate

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Mandatory 1% GST payment not to affect small companies: Official

According to a statement issued by the GST Council Secretariat on December 23, the government took several measures to curb fraudulent claims of input tax credit through fake invoices. One of the measures was mandatory 1% GST payment by those who show unusual large turnovers
The new rule said the registered person should not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of 99% of tax liability, in cases where the value of taxable supply in a month would exceeds Rs 50 lakh.(PTI FILE)
The new rule said the registered person should not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of 99% of tax liability, in cases where the value of taxable supply in a month would exceeds Rs 50 lakh.(PTI FILE)
Published on Dec 26, 2020 02:37 PM IST
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New Delhi, Hindustan Times | ByRajeev Jayaswal

Farm reforms must ensure price stability, food security

Any change in agricultural markets should use the farm development model of Punjab and Haryana and after improving upon the flaws, new enactments should be made.
Farmers listen to a speaker as they take part in a protest against the central government’s recent agricultural reforms at the Delhi-Haryana state border in Singhu on Friday.(AFP)
Farmers listen to a speaker as they take part in a protest against the central government’s recent agricultural reforms at the Delhi-Haryana state border in Singhu on Friday.(AFP)
Updated on Dec 04, 2020 05:03 PM IST
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Hindustan Times/Chandigarh | ByLakhwinder Singh, Chandigarh

PM Modi to launch platform to honour honest taxpayers

A finance ministry spokesperson said the government has been implementing a series of tax reforms since last year when it had drastically reduced the corporate tax rate for existing and companies taking a hit of Rs 1.45 lakh crore.
Finance minister Nirmala Sitharaman thanked the PM for agreeing to launch the platform.(REUTERS)
Finance minister Nirmala Sitharaman thanked the PM for agreeing to launch the platform.(REUTERS)
Published on Aug 13, 2020 06:07 AM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Tax option will help 69% individual filers save money: Centre

The new scheme gives taxpayers a significantly lower rate than the old one, but does away with 70 of 120 “deductions”.
The scheme, Union finance minister Nirmala Sitharaman said while announcing the budget on February 1, was meant to leave people with more money in their hands instead of forcing them to put it into savings.(Reuters Representative Image)
The scheme, Union finance minister Nirmala Sitharaman said while announcing the budget on February 1, was meant to leave people with more money in their hands instead of forcing them to put it into savings.(Reuters Representative Image)
Updated on Feb 08, 2020 01:09 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

‘Purpose behind tax move is to offer a simplified system’: Revenue Secretary

The purpose of the proposal is to offer an option of a simplified system, particularly to those who are not availing many exemptions, revenue secretary Ajay Bhushan Pandey said in an interview with Hindustan Times.
Revenue Secretary Ajay Bhushan Pandey(PTI)
Revenue Secretary Ajay Bhushan Pandey(PTI)
Updated on Feb 03, 2020 12:43 AM IST
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Hindustan Times, New Delhi | ByShishir Gupta and Rajeev Jayaswal

Given existing constraints, the FM did her best. Now, continue to push reforms over the year

The FM has been transparent about the fiscal deficit. The effort to improve the credibility of numbers is welcome
The direction in which the economy goes will depend on the reforms that follow this budget(Ajay Aggarwal/HT PHOTO)
The direction in which the economy goes will depend on the reforms that follow this budget(Ajay Aggarwal/HT PHOTO)
Published on Feb 01, 2020 10:16 PM IST
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ByIla Patnaik

The budget is brave. It will boost sentiment, growth | Opinion

It strikes a fine balance in giving investment a push, while remaining fiscally prudent. The markets will recognise it
Overall, this is a brave and balanced budget that will boost investors’ sentiments and restore the economic growth momentum(PTI)
Overall, this is a brave and balanced budget that will boost investors’ sentiments and restore the economic growth momentum(PTI)
Updated on Feb 02, 2020 12:08 PM IST
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ByRajiv Kumar

Budget 2020: Fiscal expenditure is the way out | Opinion

Go back to Keynesian principles. Spend money in key areas, and see the multiplier effect across the economy
The criticism against enhanced government expenditure is misplaced. Take the blinkers off(Sanjeev Verma/HT PHOTO)
The criticism against enhanced government expenditure is misplaced. Take the blinkers off(Sanjeev Verma/HT PHOTO)
Updated on Jan 29, 2020 07:56 PM IST
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ByRohit Azad

Budget may reform GST filing process

The finance ministry has been working on simplifying archaic income-tax laws and rationalising tax rates in line with recommendations of the task force on the Direct Tax Code (DTC), which submitted its report on August 19, 2019, they added.
The budget is expected to announce several direct and indirect tax reforms including further simplification of income-tax laws(AFP)
The budget is expected to announce several direct and indirect tax reforms including further simplification of income-tax laws(AFP)
Updated on Jan 25, 2020 05:19 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

India faces first fall in direct taxes in at least two decades: Report

However, a sharp decline in demand has stung businesses, forcing companies to cut investment and jobs, denting tax collections and prompting the government to forecast 5% growth for this fiscal year - the slowest in 11 years.
India’s corporate and income tax collection for the current year is likely to fall for the first time
India’s corporate and income tax collection for the current year is likely to fall for the first time
Updated on Jan 24, 2020 06:25 PM IST
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Hindustan Times, Mumbai | ByReuters

Budget 2020: Focus on growth

Address unemployment, boost demand, push policy reforms
India needs synergy in its efforts to seek long-term finance to sustainably finance investments and provide attractive returns to households outside what continues to be an overvalued stock market(PTI)
India needs synergy in its efforts to seek long-term finance to sustainably finance investments and provide attractive returns to households outside what continues to be an overvalued stock market(PTI)
Updated on Jan 15, 2020 07:04 PM IST
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GST Council may go for 3 rate slabs; could make phones and air travel pricier

Tax rate on branded cereals, mobile phones, pizzas, air travel, air-conditioned rail travel, cruises, high-end hospital rooms, paintings, branded garments, and fine fabrics such as linen and silk, may be increased to boost sagging Goods and Services Tax (GST) revenues.
Union Minister for Finance Nirmala Sitharaman addresses a press conference during the GST meet held in Old Goa. Minister of State for Finance Anurag Thakur also present.(File photo: ANI)
Union Minister for Finance Nirmala Sitharaman addresses a press conference during the GST meet held in Old Goa. Minister of State for Finance Anurag Thakur also present.(File photo: ANI)
Updated on Dec 11, 2019 10:33 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

GST leads to Rs 320 monthly saving for households: Study

A household saves Rs 94 a month on the consumption of cereals such as rice and crop because no GST is levied on them.
The note has been prepared by the ministry to ascertain the impact of GST, two government officials said on condition of anonymity.(istockphoto/Representative Image)
The note has been prepared by the ministry to ascertain the impact of GST, two government officials said on condition of anonymity.(istockphoto/Representative Image)
Updated on Dec 01, 2019 05:41 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

HTLS 2019 | Delhi’s economic model: A blueprint for the future | Opinion

Investing directly in the health, education and welfare of our people is no longer a social and moral agenda, it is also a long-term economic agenda.
Mohalla clinics, polyclinics and speciality hospitals provide free diagnostics, medicines and quality treatment to all, irrespective of their annual income(Hindustan Times)
Mohalla clinics, polyclinics and speciality hospitals provide free diagnostics, medicines and quality treatment to all, irrespective of their annual income(Hindustan Times)
Updated on Dec 01, 2019 06:58 AM IST
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ByArvind Kejriwal

Decoding the winter session so far | Opinion

Ten days remain. The government has 30 bills to pass, including the citizenship amendment bill
The government has brought in two bills not on its stated legislative agenda - on the SPG and merger of UTs(Raj K Raj / Hindustan Times)
The government has brought in two bills not on its stated legislative agenda - on the SPG and merger of UTs(Raj K Raj / Hindustan Times)
Updated on Nov 28, 2019 07:47 PM IST
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ByChakshu Roy

Will make a blueprint for companies moving out of China, get them here: FM

Finance Minister Nirmala Sitharaman told reporters Saturday that it might be important for the government to move “now and see and meet up with industries and invite them”.
India has been mulling options to attract companies leaving China or branching out, that include financial incentives such as preferential tax rates and tax holidays. (Photo @FinMinIndia)
India has been mulling options to attract companies leaving China or branching out, that include financial incentives such as preferential tax rates and tax holidays. (Photo @FinMinIndia)
Updated on Oct 20, 2019 06:38 PM IST
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Hindustan Times, Washington | ByYashwant Raj

Not fair to say there is a widespread slowdown: Ajay Bhushan Pandey

In conversation with Hindustan Times, Pandey says that the Indian taxation system is using technology to make lives of taxpayers easy.
Ajay Bhushan Pandey, a 1984 batch Maharashtra cadre Indian Administrative Service officer.(Ramesh Pathania / Mint)
Ajay Bhushan Pandey, a 1984 batch Maharashtra cadre Indian Administrative Service officer.(Ramesh Pathania / Mint)
Updated on Oct 16, 2019 05:43 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

Govt plans rejig in personal tax slabs to boost spending

The move comes after the government slashed corporate tax rates to boost investment and sentiment, and make Indian industry more competitive — a decision well received across the spectrum.
Government officials have been working on simplifying archaic income-tax laws and rationalising tax rates in line with recommendations of the task force on the Direct Tax Code (DTC), which submitted its report on August 19. (Photo @nsitharaman)
Government officials have been working on simplifying archaic income-tax laws and rationalising tax rates in line with recommendations of the task force on the Direct Tax Code (DTC), which submitted its report on August 19. (Photo @nsitharaman)
Updated on Jul 05, 2020 03:43 PM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

Nirmala Sitharaman to meet secretaries, financial advisors of key ministries in Delhi today

The main agenda of Nirmala Sitharaman meeting financial advisors and the secretaries is to discuss measures to revive the economy and push up investments.
The meeting with Finance minister Nirmala Sitharaman is likely to be held on the future plan for Capital Expenditure in the current financial year.(PTI Photo)
The meeting with Finance minister Nirmala Sitharaman is likely to be held on the future plan for Capital Expenditure in the current financial year.(PTI Photo)
Published on Sep 27, 2019 10:41 AM IST
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New Delhi | ByAsian News International

What the tax cut will achieve; what it won’t

There are positives. But India needs to do more on education, tech, exports, informal sector and farming
What is needed now are policy interventions for effecting structural changes in our skill development programmes, which, in turn, requires a paradigm shift in imparting education(Reuters)
What is needed now are policy interventions for effecting structural changes in our skill development programmes, which, in turn, requires a paradigm shift in imparting education(Reuters)
Updated on Sep 24, 2019 08:45 PM IST
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ByKapil Sibal

Tax cuts will attract investors looking to shift from China: Nirmala Sitharaman

The finance minister on Friday announced the reduction of the corporate tax rate for domestic manufacturing companies from 30% to 22% and for new manufacturing firms from 25% to 15% in a measure aimed at reviving growth in the country’s slowing economy.
Nirmala Sitharaman said the government’s decision to reduce the corporate tax rate has turned India into an attractive investment destination.(Arvind Yadav/HT PHOTO)
Nirmala Sitharaman said the government’s decision to reduce the corporate tax rate has turned India into an attractive investment destination.(Arvind Yadav/HT PHOTO)
Updated on Sep 23, 2019 06:43 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

‘No plans to revise fiscal deficit target now’: Sitharaman

Though equity markets welcomed the move, bond yields spiked to a near three-month high on speculation the government may have to borrow more to meet its spending needs.
Asked if the government will consider revising the fiscal deficit target, Finance Minister Nirmala Sitharaman said these are “decisions taken near the Budget”.(ANI PHOTO.)
Asked if the government will consider revising the fiscal deficit target, Finance Minister Nirmala Sitharaman said these are “decisions taken near the Budget”.(ANI PHOTO.)
Updated on Sep 22, 2019 09:43 PM IST
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New Delhi | ByHT Correspondent

1.45 lakh crore corporate tax cuts finalised by govt in 36 hours

Finance minister Nirmala Sitharaman on Friday slashed corporate tax rates for domestic manufacturers from 30% to 22%, while for new manufacturing companies, the rate was reduced from 25% to 15% provided they do not claim any exemptions.
The cuts were among the most sweeping ever announced by an Indian government, which would forego ₹1.45 lakh crore in revenue, hailed by corporate entities as historic, and cheered by the markets.(Photo: Pradeep Gaur/ Mint)
The cuts were among the most sweeping ever announced by an Indian government, which would forego ₹1.45 lakh crore in revenue, hailed by corporate entities as historic, and cheered by the markets.(Photo: Pradeep Gaur/ Mint)
Updated on Sep 22, 2019 04:50 AM IST
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Hindustan Times, New Delhi | ByShishir Gupta and Rajeev Jayaswal

Corporate tax cut gives PM Modi perfect pitch to win American investments

New companies setting up operations from Oct. 1 will pay an effective rate of 17.01% as tax, about the same as in Singapore.
Modi will be addressing the Bloomberg Global Business Forum Sept. 25, that will see participation from 40 major companies, including Lockheed Martin Corp., American Tower Corp., Mastercard Inc. and Walmart Inc.(Reuters image)
Modi will be addressing the Bloomberg Global Business Forum Sept. 25, that will see participation from 40 major companies, including Lockheed Martin Corp., American Tower Corp., Mastercard Inc. and Walmart Inc.(Reuters image)
Updated on Sep 21, 2019 09:54 PM IST
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Bloomberg | ByArchana Chaudhary, Vrishti Beniwal

The government’s corporate tax move is bold. But there is a fiscal risk | Opinion

It will potentially leave investors with more money, make firms competitive, and boost consumption
The success of the move depends on the government’s approach to tax administration; its management of public finances; the other steps it takes to address structural issues and boost investment; and the manner in which firms choose among available tax structures(PTI)
The success of the move depends on the government’s approach to tax administration; its management of public finances; the other steps it takes to address structural issues and boost investment; and the manner in which firms choose among available tax structures(PTI)
Updated on Sep 21, 2019 06:22 AM IST
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BySuyash Rai

Corporate tax rate cut a boost for the economy | HT Editorial

The government’s reformist measures are positive. Keep at it
Finance minister Nirmala Sitharaman’s decision to cut the corporate tax rate to a flat 22% (25.17% with cess and surcharge) for companies willing to give up all exemptions should be seen in this context(Ramesh Pathania)
Finance minister Nirmala Sitharaman’s decision to cut the corporate tax rate to a flat 22% (25.17% with cess and surcharge) for companies willing to give up all exemptions should be seen in this context(Ramesh Pathania)
Updated on Sep 20, 2019 08:29 PM IST
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Hindustan Times | ByHT Correspondent

‘Govt destroying a thriving economy’: Congress after corporate tax rate cut

Finance minister Nirmala Sitharaman slashed the corporate tax rates for domestic firms from 30% to 22% and for new manufacturing companies from 25% to 15% to boost economic growth.
Congress leader Rahul Gandhi, too, attacked Prime Minister Modi, instigating the government’s move to slash the corporate tax is to woo foreign investment during the prime minister’s ‘Howdy Modi’ event in Houston(Vipin Kumar/HT FILE PHOTO)
Congress leader Rahul Gandhi, too, attacked Prime Minister Modi, instigating the government’s move to slash the corporate tax is to woo foreign investment during the prime minister’s ‘Howdy Modi’ event in Houston(Vipin Kumar/HT FILE PHOTO)
Published on Sep 20, 2019 04:41 PM IST
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Hindustan Times, New Dlehi | ByHT Correspondent

India to be much more exciting for potential investors after corporate tax rate cut: Amit Shah

Amit Shah also said rationalisation of corporate tax had been a long pending demand which has now become a reality, adding that this move will make the corporates globally competitive.
Union Home Minister Amit Shah on Friday said the Modi government was committed in making India a big manufacturing hub.(PTI)
Union Home Minister Amit Shah on Friday said the Modi government was committed in making India a big manufacturing hub.(PTI)
Published on Sep 20, 2019 03:17 PM IST
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New Delhi | ByPress Trust of India

Corporate tax rate cut to awaken animal spirits of economy : India Inc

This move also indicates that the government is adopting a tax stimulus route rather than using higher government spending route to help the recovery process of the economy, Kirloskar added.
FICCI is sure that this trigger will lead to a virtuous cycle of investments, growth and higher employment, the industry body said.(HT image)
FICCI is sure that this trigger will lead to a virtuous cycle of investments, growth and higher employment, the industry body said.(HT image)
Updated on Sep 20, 2019 03:50 PM IST
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New Delhi | ByPress Trust of India

In a fillip to manufacturing, corporate tax rate slashed for domestic firms

Ahead of the GST council meet in Goa, Finance Minister Nirmala Sitharaman announced the slashing of corporate tax on domestic manufacturing companies.
Union Finance Minister Nirmala Sitharaman(PTI file photo)
Union Finance Minister Nirmala Sitharaman(PTI file photo)
Updated on Sep 20, 2019 11:44 AM IST
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Hindustan Times, Goa | ByGerard de Souza
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