Data: Net Market Loans of the Union Government crossed 10 lakh crore rupees for the first time in 2020-21
The pandemic forced all governments to increasingly rely on loans to meet expenditures. Increased debts…
Browsing: tax
Data: Actual Tax Revenues of 15 States including 6 Northeastern states were more than 90% of the estimates between 2017-18 & 2021-22
Budget estimates are an important of planning for various initiatives in the year ahead. A…
Data: As GST collections pickup, traditional frontrunner states still contribute the most to GST collections
After a major fall in GST collections in 2020-21 on account of the COVID-19 pandemic,…
Review: Public Accounts Committee report once again highlights the issue of tax exemption to ‘Agricultural Income’
The issue of tax exemption to ‘Agricultural Income’ has been contentious and debated for decades…
Data: Amount of fake ITC under GST increased to 1.5% of total GST collection in 2020-21
Input Tax Credit (ITC) is an important feature of the Goods & Services Tax regime…
Data: Excise Duty on Petrol & Diesel come to the rescue to Union Tax revenues in 2020-21
Lower tax revenues from both direct & indirect taxes were anticipated in 2020-21 because of…
Data: Utilization of ‘Cesses & Surcharges’ for the intended purpose remains a concern
As we highlighted earlier, the increase in the share of ‘Cesses & Surcharges’ in centre’s…
Data: Share of Cesses & Surcharges increase from 10.4% to 15.3% of Gross Tax Revenue in 10 years
The issue of Central Cesses has been a contentious one since the amount collected through…
GST Collections improved during July-December’2020, but still lower than estimates
The Centre’s GST collections increased during July-December’2020 coinciding with unlock phases across the country. The…
Here is how archaic Tax rule negatively affects salaried employees in cities like Bengaluru & Hyderabad
Exemptions provided in the income tax act & rules are availed by most salaried employees.…
