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"50% Of World's Digital Transactions Take Place In India Through UPI": PM Modi In Cyprus
The digital transformation has been a game-changer for the country, promoting financial inclusion and innovation, PM Modi said.
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Trump's Tax Bill Draws Rural Backlash Over Proposed Medicaid Reductions
Rural hospitals are sounding the alarm over proposed healthcare cuts in President Donald Trump's sweeping tax-cut and spending package, warning the changes could force them to scale back services or close their doors.
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Supreme Court Upholds Constitutional Validity of Dual Taxation on Cable TV, OTT Platforms: Report
The Supreme Court has upheld the right of state governments to levy an entertainment tax on broadcasting and digital streaming services, as they are classified as a "luxury" under the seventh schedule of the Constitution of India. This ruling clarifies that both cable TV broadcasters are liable to pay a service tax to the central government and an ...
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Revenue Service Officer Assaulted By Colleague At Income Tax Office: Police
An Indian Revenue Service (IRS) officer was allegedly assaulted by a colleague from the Income Tax Department during an argument in Lucknow on Thursday, police sources said.
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Thane Businessman Allegedly Duped Of Rs 4.5 Crore In GST Fraud
A 60-year-old businessman from Maharashtra's Thane city was allegedly duped of Rs 4.5 crore by a man who carried out transactions through his company and evaded payment of Goods and Services Tax (GST), police said on Monday.
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US Banks Permitted to Offer Crypto Custody and Management Services, OCC Confirms
The US Office of the Comptroller of the Currency (OCC) has clarified that all national banks and federal savings associations under its control are permitted to offer crypto services to their clients. These may include crypto-to-fiat conversions, trade executions, and tax services among others.
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Samsung Fights $520 Million India Tax Demand, Points to Reliance Practice
Samsung has asked the Customs Excise and Service Tax Appellate Tribunal in Mumbai to quash a $520 million (roughly Rs. 4,381 crore) tax demand for allegedly misclassifying imports of networking gear. The South Korean giant has said that Mukesh Ambani-led Reliance also imported the same component in a similar manner for years.
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GST Collection Rises 12.6% To All Time High Of Rs 2.37 Lakh Crore In April
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, government data showed on Thursday.
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No Plan To Levy GST On UPI Transactions Over Rs 2,000: Finance Ministry
The Finance Ministry on Friday made it clear that the government is not considering any proposal to levy Goods and Services Tax (GST) on UPI transactions over Rs 2,000.
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IndiGo Faces Rs 944 Crore Tax Penalty, Terms It "Erroneous"
With the Income Tax Department imposing a penalty of Rs 944.20 crore on IndiGo, India's largest airline has termed the order "erroneous" and vowed to challenge it legally.
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Egg Seller, Juice Vendor Get Notices For GST Dues Worth Crores
An egg seller and a juice vendor in Madhya Pradesh and Uttar Pradesh were in for a huge shock when they received notices for dues worth crores from the Income Tax (I-T) department.
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India Pegged As Top Source Market For London's Ambitious New 'Growth Plan'
London has unveiled an ambitious new 'growth plan' to provide an estimated 27 billion pounds extra tax revenue to fund vital public services in London, with India pegged as its number one source market in terms of foreign direct investment (FDI).
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Canada Regulator to Impose Fee on Google For Online News Law's Operating Costs
The imposition of the levy on Google comes at a time of increased tension between Canada and the United States over trade, border security, and a digital services tax on US technology firms.
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Will Impose Retaliatory Tariffs For Digital Taxes, May Come Friday: Trump
President Donald Trump said on Friday that he would sign a memorandum to impose tariffs on countries that levy digital service taxes on U.S. technology companies.
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Google Pay Reportedly Levies Convenience Fees on Bill Payments via Credit and Debit Cards
Google Pay is now levying convenience fees on bill payments made via credit and debit cards, according to a report. Until now, the unified payments interface (UPI) platform was charging users Rs. 3 as a service fee on mobile recharges. However, it will now reportedly also levy a charge, in addition to the goods and service tax (GST), on utility bil...
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"50% Of World's Digital Transactions Take Place In India Through UPI": PM Modi In Cyprus
The digital transformation has been a game-changer for the country, promoting financial inclusion and innovation, PM Modi said.
-
Trump's Tax Bill Draws Rural Backlash Over Proposed Medicaid Reductions
Rural hospitals are sounding the alarm over proposed healthcare cuts in President Donald Trump's sweeping tax-cut and spending package, warning the changes could force them to scale back services or close their doors.
-
Supreme Court Upholds Constitutional Validity of Dual Taxation on Cable TV, OTT Platforms: Report
The Supreme Court has upheld the right of state governments to levy an entertainment tax on broadcasting and digital streaming services, as they are classified as a "luxury" under the seventh schedule of the Constitution of India. This ruling clarifies that both cable TV broadcasters are liable to pay a service tax to the central government and an ...
-
Revenue Service Officer Assaulted By Colleague At Income Tax Office: Police
An Indian Revenue Service (IRS) officer was allegedly assaulted by a colleague from the Income Tax Department during an argument in Lucknow on Thursday, police sources said.
-
Thane Businessman Allegedly Duped Of Rs 4.5 Crore In GST Fraud
A 60-year-old businessman from Maharashtra's Thane city was allegedly duped of Rs 4.5 crore by a man who carried out transactions through his company and evaded payment of Goods and Services Tax (GST), police said on Monday.
-
US Banks Permitted to Offer Crypto Custody and Management Services, OCC Confirms
The US Office of the Comptroller of the Currency (OCC) has clarified that all national banks and federal savings associations under its control are permitted to offer crypto services to their clients. These may include crypto-to-fiat conversions, trade executions, and tax services among others.
-
Samsung Fights $520 Million India Tax Demand, Points to Reliance Practice
Samsung has asked the Customs Excise and Service Tax Appellate Tribunal in Mumbai to quash a $520 million (roughly Rs. 4,381 crore) tax demand for allegedly misclassifying imports of networking gear. The South Korean giant has said that Mukesh Ambani-led Reliance also imported the same component in a similar manner for years.
-
GST Collection Rises 12.6% To All Time High Of Rs 2.37 Lakh Crore In April
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, government data showed on Thursday.
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No Plan To Levy GST On UPI Transactions Over Rs 2,000: Finance Ministry
The Finance Ministry on Friday made it clear that the government is not considering any proposal to levy Goods and Services Tax (GST) on UPI transactions over Rs 2,000.
-
IndiGo Faces Rs 944 Crore Tax Penalty, Terms It "Erroneous"
With the Income Tax Department imposing a penalty of Rs 944.20 crore on IndiGo, India's largest airline has termed the order "erroneous" and vowed to challenge it legally.
-
Egg Seller, Juice Vendor Get Notices For GST Dues Worth Crores
An egg seller and a juice vendor in Madhya Pradesh and Uttar Pradesh were in for a huge shock when they received notices for dues worth crores from the Income Tax (I-T) department.
-
India Pegged As Top Source Market For London's Ambitious New 'Growth Plan'
London has unveiled an ambitious new 'growth plan' to provide an estimated 27 billion pounds extra tax revenue to fund vital public services in London, with India pegged as its number one source market in terms of foreign direct investment (FDI).
-
Canada Regulator to Impose Fee on Google For Online News Law's Operating Costs
The imposition of the levy on Google comes at a time of increased tension between Canada and the United States over trade, border security, and a digital services tax on US technology firms.
-
Will Impose Retaliatory Tariffs For Digital Taxes, May Come Friday: Trump
President Donald Trump said on Friday that he would sign a memorandum to impose tariffs on countries that levy digital service taxes on U.S. technology companies.
-
Google Pay Reportedly Levies Convenience Fees on Bill Payments via Credit and Debit Cards
Google Pay is now levying convenience fees on bill payments made via credit and debit cards, according to a report. Until now, the unified payments interface (UPI) platform was charging users Rs. 3 as a service fee on mobile recharges. However, it will now reportedly also levy a charge, in addition to the goods and service tax (GST), on utility bil...
