Centre exempts E22, E25, E27 and E30 petrol blends from excise duty in biofuel push
The Finance Ministry notification covers E22, E25, E27 and E30 fuel variants, provided they follow BIS specifications and composition rules.
The Finance Ministry notification covers E22, E25, E27 and E30 fuel variants, provided they follow BIS specifications and composition rules.
The Centre has dismissed viral claims linking temple gold reserves to a proposed monetisation scheme, saying no such policy has been approved.
The Centre has revised customs duty rates for jewellery findings and tightened import compliance norms for precious metal recovery and recycling materials from May 13.
The Budget comes at a time when India remains one of the fastest-growing major economies, even as global growth moderates due to geopolitical uncertainties, tight financial conditions and slowing demand in key markets.
In response to rising reports of fake summons being circulated in the name of the Enforcement Directorate (ED) for cheating and extortion, the ED has implemented new measures to help citizens verify the authenticity of summons notices, the Finance Ministry’s official account announced today.
The Finance Ministry has said over 8.75 lakh Hindu Undivided Families (HUFs) have filed Income Tax Returns (ITRs) and claimed deductions worth Rs 3,803 crore during 2022-23.
The Finance Ministry on Friday evening clarified that the securities transaction tax (STT) on options trading has been hiked by 25 per cent from 0.05 per cent to 0.0625 per cent, and not from 0.017 per cent to 0.021 per cent, saying that it was a typographical error and the rectification will be done in accordance with the extent procedure of the government.
'During the course of the survey, the (Income Tax) Department gathered several (pieces of) evidence indicating that tax has not been paid on certain remittances which have not been disclosed as income in India by the foreign entities of the group,'' the Finance Ministry said without directly naming the BBC.
Global spillovers may dampen India's export businesses outlook, however, resilient domestic demand and a rejuvenated investment cycle as well as a strong financial system will push economic growth, as per the monthly economic outlook review for October released by the Finance Ministry on Thursday.
The Centre has hiked interest rate for senior citizen savings scheme by 20 basis points from 7.4 per cent to 7.6 per cent, according to a Finance Ministry notification.
