« Top Headlines » Open DEMAT Account in 24 hrs  Exposure Draft of Guidance Note on Audit of Banks (2026 Edition)  2026 Tax Relief Explained: Major Changes That Bring Big Relief for Taxpayers  Union Budget 2026: Will Real Estate Get Affordable Housing, Rental Policy & Home Loan Tax Relief?  New Income Tax Act: ITR forms to be issued prior to FY28, says govt  GSTR-9C Explained: Turnover Limit, Due Date, Statement Format & How to Prepare It in Tally Prime (2025 Update)  Will Income Tax Department release new ITR forms by January 2026? Finance Ministry says this  The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:  ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025  ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck  Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?  Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy «  Finmin opposes move to shift fiscal goalposts... State FMs, Centre inch closer to blueprint for reducing CST... » FM, VAT panel to work out compensation package August, 25th 2006 Union Finance Ministry and VAT panel will try to iron out their differences over a compensation package in a week's time to enable states to implement phased reduction of central sales tax from October 1. Union Finance Ministry and the Empowered Committee of state finance ministers on VAT have some differences over the compensation package and both sides will try to iron them out, VAT panel Chairman Asim Dasgupta told mediapersons after meeting Finance Minister P Chidambaram. "We are trying hard from both sides to converge to an agreed compensation package. Our meeting in that sense is fruitful. There were some differences of opinion. We are trying to iron out those differences," he said. To this end, Parthasarthi Shome, Advisor to the Finance Minister and VAT Panel Secretary Satish Chandra will work out an agreed compensation package. "In seven days time, we will meet again with an objective to attain convergence to agreed compensation package," he said. When asked how confident he is that CST phase-out would start from October 1, Dasgupta said he is incurably a confident man. Coming out of the meeting, Chidambaram merely said," We need to meet again."