From bank info to e-way bills, govt eyes more data to curb tax evasion

From bank info to e-way bills, govt eyes more data to curb tax evasion New Delhi: The Union government has signalled its intent to tighten scrutiny of businesses. For this, it is proposing to mine all data points, not just limited to direct and indirect taxes, but extending to transaction information collated from banks, details […]

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In non-payment of taxes, the authorities will follow it up with the seller, based on the liability generated from the invoice upload

In non-payment of taxes, the authorities will follow it up with the seller, based on the liability generated from the invoice upload In a relief for businesses, the Goods and Services Tax Council is to simplify filing of returns at a meeting on Friday, through a ‘hybrid model’ recommended by a panel led by Bihar […]

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The revenue department will focus on quarterly average of GST revenues for better analysis of revenue trend, an official said.

The revenue department will focus on quarterly average of GST revenues for better analysis of revenue trend, an official said. While the Goods and Services Tax (GST) collections in April- the first month of the current fiscal – came in at Rs 1.03 trillion, the average monthly collection last fiscal from August-March was Rs 898.85 […]

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RBI policy relatively insulated from global monetary policy: Staff paper

RBI policy relatively insulated from global monetary policy: Staff paper Monetary policy in India is largely independent of spillovers from unconventional global monetary policy, says a paper from Reserve Bank of India (RBI) staff. “Heightened sensitivity of foreign exchange and equity markets to global spillovers notwithstanding, there is no strong evidence of domestic monetary policy […]

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