Page 9 - Indivjal Dhasmana/ Pti

Interim Budget: Tax-GDP ratio projected to be highest in FY25 since 2008-09

Personal income tax is the only tax that was shown to collect more in RE for this financial year

Interim Budget: Improved fiscal resilience amid modest tax buoyancy

The Interim Budget had assumed nominal GDP growth of 10.5 per cent of GDP, but First Advance Estimates placed it at 8.9 per cent

January GST collection rises 10.4% to Rs 1.72 trn, second-highest ever

RE for CGST may be higher than BE for FY24 in Interim Budget

Tax roadblock to tourism drive: India isn't 1st choice for foreign tourists

India is still not the first choice for foreign tourists and operators because it levies higher taxes and Southeast Asian countries promote themselves more

Direct tax to GDP ratio in FY24 likely to be the highest since FY01

Tax buoyancy measures change in tax growth as a result of GDP expansion. Buoyancy at more than one means the GDP growth rate has led to a higher increase in tax receipts

Modi 2.0 expenditure: Govt spend on education, health remains low

Interest payments, subsidies account for big chunk of outlays

Delhi HC upholds validity of anti-profiteering provisions under GST

The court held that anti profiteering provisions pertain to commensurate reduction of prices when gst rates are reduced or due to input tax credit and hence these provisions are in public interest

'No spectacular announcements': Will FM walk the talk on interim Budget?

The Interim Budget due on February 1, 2024, will include a Vote on Account to ensure that the government's expenditure does not get affected in view of the Lok Sabha elections

Direct tax-GDP ratio rises to 15-year high of 6.11% during FY23, shows data

However, direct tax collections rose higher than economic growth during FY23

In India's drive to boost tourism, tax becomes roadblock for industry

Sector struggling to recover from effects of pandemic created 1.6 mn jobs in 2023

Employees' payment for canteen services will not attract GST: AAR

GST and input tax credit applicable for company's payment to canteen service provider not recovered from employees

FY24 per capita income growth may be lowest in 21 years barring FY20, FY21

This was despite the real gross domestic product (GDP) being projected to grow by 7.3 per cent in the current financial year by the first advance estimates

Real, nominal GDP growth, inflation play out differently this time around

This happened because inflation, as viewed by GDP deflators, is expected to be quite lower than initially projected for first time, contrary to what had happened ahead of 3 previous interim Budgets

Net direct tax mop-up rises 19% to Rs 14.7 trillion till January 10

RE for mop-up could be higher than BE as collections cross 80% of FY24 target

Will govt compromise on capex for fiscal consolidation ahead of polls?

National Democratic Alliance governments have not compromised on capex for fiscal consolidation so far, at least in their concluding years

Containing fiscal deficit at 5.9%: Low nominal GDP growth a challenge

The Budget had assumed nominal GDP to grow 10.5 per cent during 2023-24, but advance estimates have projected it to expand by just 8.9 per cent

India's economy likely to grow nearly 7% in FY24, say economists

First Advance Estimates for 2023-24 would be released by the NSO today

Govt issues bare minimum terms of reference for 16th finance commission

The ToRs for the Commission strictly align with what is broadly enshrined in the Constitution

Record 81.8 mn ITRs filed till Dec 31, rises 9% in current assessment year

To encourage taxpayers to file their ITRs and forms early, over 1.03 billion outreaches were made through targeted e-mail, SMS and other creative campaigns

GST receipts decline to three-month low but hold on to Rs 1.65 trn in Dec

Average monthly gross GST collection -- Rs 1.66 trillion in the first nine months -- represents a 12 per cent rise over the Rs 1.49 trillion recorded in the corresponding period of FY23