Page 4 - Latest Updates on Tax Revenue
Covid spending to tax revenue: Key numbers to watch out for in Budget 2021
Here are the key numbers to watch out for in the Budget for 2021-22, which is widely expected to be a "economic vaccine" for the pandemic-battered economy.
 "Covid spending to tax revenue: Key numbers to watch out for in Budget 2021")
Banking on Budget: Hope and reforms amid pandemic and fiscal deficit
The government has taken laudable steps to support and propel the economy in these difficult times, but a lot more still needs to be done, writes Vikas Vasal
 "Banking on Budget: Hope and reforms amid pandemic and fiscal deficit")
Budget Byte: Will the states finally get their full share of tax revenue?
The report of 15th Finance Commission, which will be released along with the Budget, will pave way for tax revenue sharing in coming years
 "Budget Byte: Will the states finally get their full share of tax revenue?")
India's Covid-19 pandemic fiscal cost lowest among major nations: Report
Business Standard's own calculations suggest that the Centre's fiscal impact amounts to around Rs 2.28 trillion, or around 1.2 per cent of GDP.
 "India's Covid-19 pandemic fiscal cost lowest among major nations: Report")
Advance tax collection falls 31% in Q1, corporation tax mop-up down 79%
Gross direct tax collection fell a full 31% to Rs 1,37,825 crore in the first quarter of FY21
 "Advance tax collection falls 31% in Q1, corporation tax mop-up down 79%")
Adityanath seeks ways to boost tax revenue as UP misses April target by 90%
Chairing a review meeting here, Adityanath directed the revenue minister and other senior officials to look at additional sources of revenue and accelerate tax collection
 "Adityanath seeks ways to boost tax revenue as UP misses April target by 90%")
Taxmen threaten to stall work in protest if working conditions don't change
Corporation and income tax collection for the current year is likely to fall for the first time in at least two decades
 "Taxmen threaten to stall work in protest if working conditions don't change")
Optimistic projection
Doubts emerge about the Budget's tax revenue estimates
 "Optimistic projection")
Why govt may have to lower its FY20 tax revenue target a second time
For this financial year, the Budget has already slashed the net tax revenue figures by Rs 1.45 trillion in RE to Rs 15.04 trillion, down from Rs 16.49 trillion given in the BE in July 2019
 "Why govt may have to lower its FY20 tax revenue target a second time")
Union Budget 2020: Fake invoicing under GST a non-bailable offence
Sitharaman announced that the new GST return framework and e-invoicing would be implemented from April 1, to improve compliance and plug the tax revenue leakages
 "Union Budget 2020: Fake invoicing under GST a non-bailable offence")
Budget 2020: How will Sitharaman pull off Rs 2.1-trn disinvestment miracle?
The government has promised to raise Rs 120,000 crore via disinvestment, and an additional Rs 90,000 crore from sale of government equity in public-sector banks and financial institutions, in 2020-21
 "Budget 2020: How will Sitharaman pull off Rs 2.1-trn disinvestment miracle?")
Budget 2020: Tax revenue estimate for FY20 likely to be slashed 4-6%
This will be the second time that the projection will be changed for the current fiscal year
 "Budget 2020: Tax revenue estimate for FY20 likely to be slashed 4-6%")
Govt's fiscal woes likely to climb as gross spending to rise by 20%: Report
The total budgeted expenditure of the central government for 2019-20 is Rs 27.86 trillion.
 "Govt's fiscal woes likely to climb as gross spending to rise by 20%: Report")
Budgetary over-reach: There is a price for trying to do too much in Budgets
The larger economy suffers more than the central govt, as New Delhi is allowed to get away with behaving arbitrarily and then hiding the reality behind bogus numbers, writes T N Ninan
GDP to grow by 5.5% in FY21 but downside risks persists: India Ratings
The government has announced a slew of measures recently to prop-up the economy, but Ind-Ra believes they will come to aid only in the medium term
 "GDP to grow by 5.5% in FY21 but downside risks persists: India Ratings")
Share buybacks losing lustre as 20% tax bites; firms await relief in Budget
Experts blame the change in tax dynamics for the sharp drop in buybacks
 "Share buybacks losing lustre as 20% tax bites; firms await relief in Budget")
Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target
The FRBM Act, after its amendment in 2018, allows a fiscal deficit slippage of not more than 0.5% for any given year, provided there are justifications
 "Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target")
How should the government revive demand?
What happens when, with government expenditure unchanged at Rs 65 trillion, the FM decides to reduce the tax rate, mobilise less revenue and let the deficit widen by Rs 1 trillion?
 "How should the government revive demand?")
FY20 gross tax revenue likely to fall short by around Rs 2 trillion
FinMin is said to have shared assessment with 15th FC
 "FY20 gross tax revenue likely to fall short by around Rs 2 trillion")
After corporate tax cut, fiscal crisis reaches states' doorstep
The recent sentiment-boosting corporate tax cuts will cost the government Rs 1.45 trillion of gross tax revenue
 "After corporate tax cut, fiscal crisis reaches states' doorstep")
