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Latest Articles in finance ministry

Customer Deposits Held In Swiss Banks Not Necessarily Located In Switzerland: Swiss Authorities Tell Finmin

The finance ministry had sought details from the Swiss authorities on the relevant facts along with their view on possible reasons for changes in funds parked by Indian individuals and entities in 2020.

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Crude Palm Oil Imports Rise 10 % During Apr 1-Jul 12, Customs Ensuring No Clogging At Ports: FinMin

To facilitate trade and expedite the clearances, nodal officers have been nominated in all the customs zones and a standard operating procedure has also been put in place for smooth clearance.

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Need Food, Farm, Fertilizer Subsidy Reforms To Improve Fiscal Position: Finance Secy

He added, reforms in education and infrastructure are easy to announce but difficult to implement administratively as cooperation of states and other stakeholders becomes necessary.

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Govt Waives Import Duty On Raw Materials For Covid Test Kits, Apis For Amphotericin B

The rate on Remdesivir and anti-coagulants like Heparin is lowered from 12 per cent to 5 per cent. GST rate on ambulance was cut to 12 per cent from 28 per cent.

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CCEA Clears LIC Disinvestment; Panel Headed By FM To Decide Quantum Of Stake Sale

The Budget amendments to the LIC Act has been notified and the actuarial firm is expected to finalise the embedded value of the life insurer. Under the embedded value method, the insurance company's present value of future profit is also included in its present net asset value.

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Pankaj Chaudhary Takes Charge As Minister Of State For Finance

Chaudhary, a six-time MP, was inducted in the Council of Ministers of the Modi 2.0 government on Wednesday.

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Economy Recovering Due To Targeted Fiscal Relief, Rapid Vaccination: Finmin

Resilient tax collections of the central government in the first two months of FY 2020-21 and sustained momentum in capital expenditure, particularly in the road and rail sector

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Govt Brings Dept Of Public Enterprises Under Finance Ministry

The government has budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions during 2021-22.

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OECD-G20 Global Tax Deal: India Says 'Consensus Agreement' Likely By October

The Finance Ministry said majority of the members of OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (including India) adopted on Thursday a high-level statement containing an outline of a consensus solution to address the tax challenges arising from the digitalisation of the economy.

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GST 4th Anniversary: Finmin To Issue Appreciation Certificates To 54,439 GST Payers

The income tax department too sends out 'certificates of appreciation' to individual taxpayers in various categories on the basis of the level of taxes paid by them.

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GST Reduced Tax Rate, Increased Compliance; More Than 66 Cr Returns Filed In 4 Years: Finmin

GST has significantly eased one of the most complex indirect tax systems and a company looking to do business in every state had to make as many as 495 different submissions.

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Tourism Industry Players Welcome Move, Call It A Much Needed Step

The sector has witnessed one of the highest contractions since the pandemic and we believe that the credit relief provided will play a crucial role in reviving the economic activity of the sector

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Continuous Reforms Makes India Great Place To Do Business: FM To US Investors

The fiscal deficit for 2020-21 was at 9.3 per cent of the gross domestic product (GDP), lower than 9.5 per cent estimated by the finance ministry in the revised Budget estimates.

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Tax Portal Glitches: ICAI Makes Presentations To Finmin Officials, Infosys Representatives

Institute of Chartered Accountants of India (ICAI) said officials from CBDT and Infosys were very receptive to the issues being conveyed by it.

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FinMin, Infosys Meet On Glitches In New I-T Portal On Tuesday; To Discuss Stakeholder Inputs

Several stakeholders have submitted written inputs highlighting the issues facing the portal as well as areas that need to be fixed.

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