Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: VAT Audit :: TDS :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: articles on VAT and GST in India :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: cpt
 
 
Direct Tax »
 High court judges, experts brainstorm on likely GST litigations
 Businesses need not deduct GST on advances received for goods supply: CBEC
 Redress taxpayers' grievances on priority: CBDT to I-T department
 No tax relief on EPF interest if not employed: ITAT
  CBDT signs 7 more unilateral APAs with taxpayers
 Income tax returns (ITR) filing: Get capital gains tax exemption on new property; here is how
 Reach out to non-filers of GST returns: CBEC to fields offices
 CBDT may shelve plan to seek corporate tax estimates in advance
 IT expertise at banks' board level a must, says RBI ED
 Clarification on Indirect Transfer provisions in case of redemption of share or interest outside India under the Income-tax Act, 1961
 To avoid double-taxation CBDT says no tax at upstream foreign fund if local fund paid already

CBDT issued over 2.1 crore tax refunds in 2015-16
May, 07th 2016

In a massive relief to tax assessees, the Income Tax Department has issued over 2.1 crore refunds amounting to ?1.22 lakh crore last fiscal.

This is a 8.9-per cent increase from refunds worth ?1.12 lakh crore paid by it in 2014-15. The department had issued tax refunds of ?89,664 crore in 2013-14. “The optimum use of technology helped in the expeditious disposal of tax assessment and refunds in the last two years,” the Finance Ministry said on Friday.

It further said that 94 per cent of all income tax returns were filed online in 2015-16 and 4.14 crore returns processed at Central Processing Centre, Bengaluru without any human intervention.

The Ministry also said that indirect tax collections have shown turnaround last fiscal. The indirect tax to the gross domestic product (GDP) ratio for 2015-16 is about 5.17 per cent as compared with 4.36 per cent in the previous fiscal.

“The indirect tax: GDP ratio for 2016-17 is estimated to be 5.20 per cent,” it said.

Indirect tax collection amounted to ?7.11 lakh crore in 2015-16 and is estimated at ?7.79 lakh crore this fiscal.

Meanwhile, the Ministry also said that e-payment of central excise and service tax refunds and rebates through RTEGS/NEFT has been implemented and 80 per cent of the refund amount is granted within five days for service exporters.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions