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No GST exemption to help businesses fight Covid-19 disruptions

No GST exemption to help businesses fight Covid-19 disruptions

🕔12:08, 24.May 2020

New Delhi, May 24  The Finance Ministry has ruled out GST waiver or deference to businesses as part of the economic relief package to help them cope with the situation arising in the wake of Covid-19 pandemic and the resultant

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Relief for NRIs and foreign visitors on residency status amid lockdown

Relief for NRIs and foreign visitors on residency status amid lockdown

🕔07:00, 9.May 2020

New Delhi, May 9  The Finance Ministry on Friday announced relief to those who have been facing difficulty with the status of their residency in India under the provisions of the Income Tax Act, due to lockdown and suspension of

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Transactions using Aadhar-enabled payment system doubles during lockdown

Transactions using Aadhar-enabled payment system doubles during lockdown

🕔06:58, 5.May 2020

New Delhi, May 5  Digital technology has helped in a big way to enable provision of banking services at the grassroots level during the period lockdown, the Finance Ministry said on Monday. This can be gauged from the popularity of

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ITR forms being revised for benefits of timeline extension

ITR forms being revised for benefits of timeline extension

🕔19:12, 19.Apr 2020

New Delhi, April 19 The Finance Ministry on Sunday said that the Central Board of Direct Taxes (CBDT) is revising the income tax return (ITR) forms for FY 2019-20 (Assessment Year 2020-21) which will be notified by the end of this

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Economic package focussing on SMEs may be announced soon

Economic package focussing on SMEs may be announced soon

🕔11:30, 15.Apr 2020

New Delhi, April 15  The next set of stimulus measures from the government will have a clear focus on concerns of SME segments that have been hit hard due to Covid-19 outbreak and resultant nationwide lockdown. Sources in the government

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Govt payment systems essential services, to work on: FinMin

Govt payment systems essential services, to work on: FinMin

🕔09:33, 24.Mar 2020

New Delhi, March 24  The Finance Ministry has issued an office memorandum to ensure smooth functioning of government expenditure system during the operation of preventive measures to contain the spread of Covid-19. It has said that as the expenditure functions

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FinMin may use more CMBs in FY21 to meet debt obligations

FinMin may use more CMBs in FY21 to meet debt obligations

🕔19:05, 12.Jan 2020

New Delhi, Jan 12 (IANS) The government is likely to opt for auctioning of more cash management bills (CMBs) to meet the debt obligations of government bonds in the next fiscal standing at Rs 3.02 lakh crore to avoid putting pressure

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FinMin notifies GST grievance redress panel for tax payers

FinMin notifies GST grievance redress panel for tax payers

🕔06:29, 26.Dec 2019

New Delhi, Dec 26  The Finance Ministry on Wednesday notified setting up of a GST grievance redress committee at zonal/state level after it was approved in the last GST Council meeting this month. The Council in its 38th meeting held

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PSBs disburse Rs 81,781 cr credit in phase I outreach: FM

PSBs disburse Rs 81,781 cr credit in phase I outreach: FM

🕔07:40, 15.Oct 2019

New Delhi, Oct 15  Public sector banks disbursed Rs 81,781 crore, including new term loans of Rs 34,342 crore during the first phase of the Customer Outreach Initiative from October 1-9 and sanctioned Rs 39,068 crore to NBFCs from September

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FinMin to start pre-Budget, Revised Estimates meetings Oct 14

FinMin to start pre-Budget, Revised Estimates meetings Oct 14

🕔07:15, 3.Oct 2019

New Delhi, Oct 3  The Finance Ministry will start pre-Budget and Revised Estimates meetings from October 14 to November’s first week, an official notification of the ministry said on Wednesday. “The pre-budget/RE meetings will begin on the 14th October 2019.

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Government hopeful on FPIs returning post-tax rollback

Government hopeful on FPIs returning post-tax rollback

🕔07:00, 3.Sep 2019

New Delhi, Sep 3  The government is in a waiting mode to see the impact of its recent measures to reverse the economic slowdown and is hopeful of Foreign Portfolio Investors (FPIs) returning to the Indian equity market in September

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Sectoral policy intervention in works, no fiscal stimulus

Sectoral policy intervention in works, no fiscal stimulus

🕔10:31, 19.Aug 2019

New Delhi, Aug 19  The Finance Ministry is holding back-to-back discussions with the Prime Minister’s office and the Reserve Bank of India to come out with a sectoral policy package at the earliest but sources rule out any fiscal stimulus

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Government may receive first tranche of RBI surplus this calendar

Government may receive first tranche of RBI surplus this calendar

🕔18:00, 16.Aug 2019

New Delhi, Aug 16  The Finance Ministry is likely to receive the first tranche of the RBI’s surplus money towards December after its central board discusses and approves the report finalised by the Bimal Jalan panel. The six-member panel led

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Finance Ministry asks officers to guide taxpayers on Budget proposals

Finance Ministry asks officers to guide taxpayers on Budget proposals

🕔14:47, 6.Jul 2019

New Delhi, July 6  The Finance Ministry has sent out informative guide on various indirect tax proposals in the Union Budget to senior field officers for implementation. In a letter to Principal Chief Commissioner, Chief Commissioner and Principal Commissioner, the

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FinMin revamps tax scrutiny procedure to faceless assessment

FinMin revamps tax scrutiny procedure to faceless assessment

🕔10:08, 27.Jun 2019

New Delhi, June 27  The Finance Ministry has expanded the scope of direct tax task force to facilitate faceless tax assessment and verification to prevent corruption, harassment and speed up processing. “It has been decided to further expand the terms of

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Market in liquidity defict mode in Q4 of FY19, RBI pumped in Rs 1.12 lakh cr: FinMin

Market in liquidity defict mode in Q4 of FY19, RBI pumped in Rs 1.12 lakh cr: FinMin

🕔21:30, 21.Jun 2019

New Delhi, June 21  Market liquidity was in deficit mode in Q4 of last fiscal and RBI pumped in Rs 1.12 lakh crore in the period to sustain the market, according to the Finance Ministry quarterly data on public debt.

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Budget may consider sops to MSME export units

Budget may consider sops to MSME export units

🕔13:45, 10.Jun 2019

New Delhi, June 10  The Finance Ministry is keen on key employment and export boosting steps to be accomodated in the Budget. It may consider fiscal incentives like interest rate subvention, lower tax rates for upto certain turnover threshold for

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Nirmala Sitharaman gets Finance Ministry

Nirmala Sitharaman gets Finance Ministry

🕔18:41, 31.May 2019

New Delhi, May 31 Nirmala Sitharaman has been assigned the important portfolio of Finance along with Corporate Affairs. With a slowing economy and rising unemployment, her job is clearly cut out. She would be presenting the Union Budget in July. Since

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RBI may toughen NBFCs’ access to public deposits

RBI may toughen NBFCs’ access to public deposits

🕔19:15, 22.May 2019

New Delhi, May 22  The Finance Ministry may ask the Reserve Bank of India (RBI) to put strong regulatory framework around NBFCs accessing non-bank public deposits, like pension and provident fund, as these are savings of the salaried class and

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Government extends final sales return filing date

Government extends final sales return filing date

🕔06:20, 11.Apr 2019

New Delhi, April 11  The Finance Ministry has extended last date for filing final sales return for March till April 13. “The extension of due date for filing sales return came after businesses complained of some issues in the GSTR-1

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