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Tax Panel Plans Steep Levies On Luxury Electric Cars In Blow For Tesla, BMW
A tax panel has proposed steep increases in consumer levies on luxury electric cars priced above $46,000, a government document showed, a move that could impact sales of carmakers such as Tesla, Mercedes-Benz, BMW and BYD.
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Key Panel Accepts Centre's Proposal To Move To 2 GST Slabs, Down From 4
A key meeting of the Group of Ministers (GoM) on GST rate rationalisation on Thursday ended with state finance minister accepting the Centre's plan to reduce the number of tax slabs.
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31-Member Panel Set Up To Examine Income Tax Bill, Will Be Headed By BJP MP
Lok Sabha Speaker Om Birla on Friday constituted a 31-member Select Committee of the lower house to examine the Income Tax Bill.
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After EY Employee Death, Deloitte Forms Panel To Review People Practices
Amid a social media storm over the death of a young employee at tax consultancy major EY allegedly due to work pressure, Deloitte has formed a three-member external committee.
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Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
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After Congress Complaint, Poll Panel To Verify Union Minister's Affidavit
Lok Sabha elections 2024: The ECI has directed the CBDT to verify potential mismatch - between actual and declared assets, and income - in affidavits filed by the BJP's Rajeev Chandrasekhar ahead of his candidature for the Lok Sabha el
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House Help Held Hostage In Bureaucrat's House For 6 Months: Women's Panel
A 19-year-old domestic help was on Thursday rescued from the house of an Income Tax officer in Gurugram where she was allegedly held hostage by her employer for six months, the NCW said.
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Budget 2023: TVs Made in India to Get Cheaper by Up to Rs. 3,000 After Tax Cuts on Imported Parts
Finance minister Nirmala Sitharaman, during her presentation of the Union Budget for 2023-24 on Wednesday, announced reduction in basic customs duty (BCD) on imported parts of TVs to 2.5 percent from five percent. Locally manufactured television sets could thus become cheaper by up to Rs 3,000
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Government Tax Panel Said to Be Unlikely to Reach Consensus on Taxing Online Gaming in December
A government panel of state finance ministers has not yet submitted its report on plans to tax the online gaming sector, according to a government official. The panel is yet to decide whether to talk the profits of these firms, or the value of the entire pool of money collected from game participants.
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SBI Report Flags Freebies Time-Bomb, Asks Supreme Court To Cap Spends
With states after states competing to offer freebies, a report has suggested that the Supreme Court-led panel could cap such welfare schemes at 1 per cent of the state's GDP or 1 per cent of its own tax collection.
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Canada Says Proposed U.S. EV Tax Credit Could Harm Sector, Mulls Possible Challenge
A U.S. House panel in September approved legislation to boost EV credits to up to $12,500 per vehicle, including $4,500 for union-made vehicles produced in the United States and $500 for batteries made in the United States.
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Amazon Appears Before Parliamentary Panel, Questioned Over Tax Paid in India
Amazon on Wednesday was questioned by a joint parliamentary panel over its revenue model and tax payments in India. The e-commerce giant had earlier refused to appear before the committee.
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Government Panel To Handle Investigations Against 3 Gandhi Family Trusts
Three trusts linked to the Gandhi family will be investigated for alleged financial wrongdoings, the government said today. The Home Ministry has formed an inter-ministerial committee to coordinate investigations into alleged violation of income tax and foreign donation rules by Rajiv Gandhi Foundation, Rajiv Gandhi Charitable Trust and Indira Gand...
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Government Scraps Import Tax on Open Cell Panels in Boost for TV Makers
India has scrapped a tax on imports of open cell TV panels, used to make television displays, in a move likely to boost television manufacturing in the country.
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GST Panel Unlikely To Favour Tax Rate Cut For Auto Sector
India's goods and services tax (GST) panel is unlikely to approve lowering the tax for the auto and allied components sector this week, as a study has warned of major revenue losses, two government officials said.
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Tax Panel Plans Steep Levies On Luxury Electric Cars In Blow For Tesla, BMW
A tax panel has proposed steep increases in consumer levies on luxury electric cars priced above $46,000, a government document showed, a move that could impact sales of carmakers such as Tesla, Mercedes-Benz, BMW and BYD.
-
Key Panel Accepts Centre's Proposal To Move To 2 GST Slabs, Down From 4
A key meeting of the Group of Ministers (GoM) on GST rate rationalisation on Thursday ended with state finance minister accepting the Centre's plan to reduce the number of tax slabs.
-
31-Member Panel Set Up To Examine Income Tax Bill, Will Be Headed By BJP MP
Lok Sabha Speaker Om Birla on Friday constituted a 31-member Select Committee of the lower house to examine the Income Tax Bill.
-
After EY Employee Death, Deloitte Forms Panel To Review People Practices
Amid a social media storm over the death of a young employee at tax consultancy major EY allegedly due to work pressure, Deloitte has formed a three-member external committee.
-
Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
-
After Congress Complaint, Poll Panel To Verify Union Minister's Affidavit
Lok Sabha elections 2024: The ECI has directed the CBDT to verify potential mismatch - between actual and declared assets, and income - in affidavits filed by the BJP's Rajeev Chandrasekhar ahead of his candidature for the Lok Sabha el
-
House Help Held Hostage In Bureaucrat's House For 6 Months: Women's Panel
A 19-year-old domestic help was on Thursday rescued from the house of an Income Tax officer in Gurugram where she was allegedly held hostage by her employer for six months, the NCW said.
-
Budget 2023: TVs Made in India to Get Cheaper by Up to Rs. 3,000 After Tax Cuts on Imported Parts
Finance minister Nirmala Sitharaman, during her presentation of the Union Budget for 2023-24 on Wednesday, announced reduction in basic customs duty (BCD) on imported parts of TVs to 2.5 percent from five percent. Locally manufactured television sets could thus become cheaper by up to Rs 3,000
-
Government Tax Panel Said to Be Unlikely to Reach Consensus on Taxing Online Gaming in December
A government panel of state finance ministers has not yet submitted its report on plans to tax the online gaming sector, according to a government official. The panel is yet to decide whether to talk the profits of these firms, or the value of the entire pool of money collected from game participants.
-
SBI Report Flags Freebies Time-Bomb, Asks Supreme Court To Cap Spends
With states after states competing to offer freebies, a report has suggested that the Supreme Court-led panel could cap such welfare schemes at 1 per cent of the state's GDP or 1 per cent of its own tax collection.
-
Canada Says Proposed U.S. EV Tax Credit Could Harm Sector, Mulls Possible Challenge
A U.S. House panel in September approved legislation to boost EV credits to up to $12,500 per vehicle, including $4,500 for union-made vehicles produced in the United States and $500 for batteries made in the United States.
-
Amazon Appears Before Parliamentary Panel, Questioned Over Tax Paid in India
Amazon on Wednesday was questioned by a joint parliamentary panel over its revenue model and tax payments in India. The e-commerce giant had earlier refused to appear before the committee.
-
Government Panel To Handle Investigations Against 3 Gandhi Family Trusts
Three trusts linked to the Gandhi family will be investigated for alleged financial wrongdoings, the government said today. The Home Ministry has formed an inter-ministerial committee to coordinate investigations into alleged violation of income tax and foreign donation rules by Rajiv Gandhi Foundation, Rajiv Gandhi Charitable Trust and Indira Gand...
-
Government Scraps Import Tax on Open Cell Panels in Boost for TV Makers
India has scrapped a tax on imports of open cell TV panels, used to make television displays, in a move likely to boost television manufacturing in the country.
-
GST Panel Unlikely To Favour Tax Rate Cut For Auto Sector
India's goods and services tax (GST) panel is unlikely to approve lowering the tax for the auto and allied components sector this week, as a study has warned of major revenue losses, two government officials said.
