Anupam Mittal Lashes At GST Of 28% On Online Gaming
The recently announced 28% GST on online gaming has disappointed many businessmen, especially those in online gaming like horse racing, and casinos. Recently, a judge of Shark Tank India said, Anupam Mittal said, "'Latest lessons - stop gaming, start building rockets, move money from crypto to tomatoes."Earlier Ashneer Grover, a startup king said, "RIP - Real money gaming industry in India." The Union Ministry imposed 28% GST on… read-more
Tags: online gaming, FINANCE MINISTRY, Anupam Mittal, shark tank India, business
Courtesy: NDTV
Good News For AP As Centre Approves Rs 12,911 Crores Funding
In a major development for Andhra Pradesh, the Central Government approved Rs 12,911 crores as additional funding to the State Government. The decision was taken by the Union Finance Ministry, after a meeting held between the Jal Shakti Department officials. The major announcement came as a boon to the YS Jagan Mohan Reddy-led YSRCP Government, which was demanding funding for the construction of the Polavaram Project.
Tags: Andhra Pradesh Govt, Funds, Polavaram Project, FINANCE MINISTRY, Jal Shakti
Courtesy: One India
Nirmala Sitharaman Emphasises On 7 Priorities For Union Budget 2023-2024
Union Finance Minister Nirmala Sitharaman who will shortly present the full-fledged Union Budget 2023-2024, outlined seven priorities of the union budget. She emphasized seven priorities, calling it 'saptrishi'. Sitharaman said, Inclusive development, Reaching the last mile, Infrastructure and investment, Unleashing the potential, Green growth, Youth power and the Financial sector are the most important priorities for the Modi Government in… read-more
Tags: Nirmala Sitharaman, FINANCE MINISTRY, Budget 2023-2024, Indian Politics, Budget
Courtesy: Hindustan Times
Govt Taking Necessary Measures Against Dubious Digital Loan Apps In India
Union Finance Minister Nirmala Sitharaman said the Government of India is taking action against dubious digital loan apps, including those originating from outside the country. During the Parliament session, Sitharaman clarified these loan apps, saying Indians who helped in setting them up will also be facing strict actions. On August 2, Rajya Sabha proceedings, Union FM said, many Indian borrowers are being harassed and money is being… read-more
Tags: digital loan, dubious applications, Nirmala Sitharaman, parliament, FINANCE MINISTRY
Courtesy: Press Trust of India
DRI Detects Customs Duty Evasion Of Rs 4,389 Cr By Chinese Firm Oppo In India
Finance Ministry reported on July 13 that Directorate of Revenue intelligence personnel had discovered Rs 4,389 crore in duty fraud by Chinese smartphone manufacturer Oppo through incorrect import declarations. The DRI conducted searches at Oppo India's workplace and key management workers' homes, resulting in the seizure of damning evidence proving deliberate misdeclaration in the description of certain materials imported by Oppo India. The… read-more
Tags: DRI, Oppo, Customs Duty, FINANCE MINISTRY, Chinese
Courtesy: Free Press Journal
GST Revenue Collection Crosses Rs 1.44 Lakh Crore In June
In June, the GST collections increased by 56%, to over Rs 1.44 lakh crore on economic recovery, said the Union Finance Ministry, on July 1. As per sources, during June, the revenues from the import of goods were 55 per cent higher and the revenues from domestic transactions. The Union Ministry said, this is a "rough-bottom line" and said, this is the fifth time, GST-monthly collection crossed the Rs 1.40-lakh-crore.
Tags: GST Revenue, Percentage, Higher In June, FINANCE MINISTRY, Nirmala Sitharaman
Courtesy: Press Trust of India
Get Cheap Air Tickets On Govt Account With Prior Bookings: Finance Ministry
In a release, the Union Finance Ministry asked government employees to opt for the 'cheapest fare available' on their entitled travel class a month prior booking, on a government account. Aiming a reduce prices on tickets, the ministry said, employees, to book one ticket for each leg, avoiding unnecessary cancellations. Furthermore, it mentioned bookings prior 72-hours of intended travel, and cancellations less than 24 -hours will need a self… read-more
Tags: Government Employees, FINANCE MINISTRY, Air Tickets, Cheap Flights, Air India
Courtesy: Press Trust of India
Consultation On Cryptocurrencies Done, Papers Will Be Submitted Soon
The Economic Affairs Secretary Ajay Seth addressed the media and said, they have completed the consultation on cryptocurrencies and will submit the report soon. Seth on May 30, said, "A global response is needed to deal with the challenges posed by crypto." His statement came on the lines of an event organized by Union Finance Minister Nirmala Sitharaman. Notably, bitcoins and their usage legally is a concern globally.
Tags: Cryptocurrencies, FINANCE MINISTRY, Nirmala Sitharaman, Ajay Seth, Indian Govt
Courtesy: The Free Press Journal
Centre 'Unlikely' To Agree For Tax Cut As Relief From Rising Fuel Prices: Experts
The Central Government is not mulling over any plans for tax cuts on fuel to provide relief from the sting of rising fuel prices, said experts. The issue of this global rise in fuel price was raised during a recent meeting between senior executives, finance and oil ministers, and others. A person privy to the discussion said that the Finance Ministry has turned down the proposal to cut the duty.
Tags: business, Inflation, fuel prices hike, tax cut, FINANCE MINISTRY
Courtesy: The Economic Times
Finance Ministry Clears Rs 96,576 Crore To States As GST Compensation
The Union Finance Ministry has released Rs 96,576 crore to states and Union Territories (UTs) to cover the revenue shortfall in connection with the implementation of Goods and Services Tax (GST). In addition, the Centre has provided an additional Rs 1.59 lakh crore in the form of back-to-back loans to states and UTs. Notably, the Centre also gave a nod to extend the GST compensation cess till March 2026.
Tags: business, FINANCE MINISTRY, money, STATES, GST COMPENSATION
Courtesy: ANI News