Mains > Economic Development > Indian Economy and issues > Taxation
IN NEWS: Recently, the Supreme Court, in a unanimous verdict (in Union of India vs Mohit Minerals case), held that Goods and Services Tax (GST) Council’s recommendations only have persuasive value and would n...
Preliminary > Polity > Institutions/Bodies > Taxation
Why in news? The Supreme Court ruled that recommendations of the Goods and Services Tax (GST) Council only have persuasive value, and cannot be binding on the Centre and states. Highlights from the Supreme Cou...
Preliminary > Economic Development > Miscellaneous > Taxation
Why in news The Central Board of Direct Taxes (CBDT) has rolled out e-Settlement Scheme for settlement of tax disputes involving small tax payers to be processed entirely electronically. About the schem...
Preliminary > Economic Development > Indian Economy and Issues > Taxation
Why in news? A collection of 136 countries, including the G-20 member nations and the Organization for Economic Cooperation and Development, has agreed on the OECD-G20 Inclusive Framework on Base Erosion and Profit...
Mains > International relations > Agreements > Taxation
IN NEWS: Finance Ministers from the Group of Seven (G7) nations reached a landmark accord setting a global minimum corporate tax rate. GLOBAL MINIMUM CORPORATE TAX: Corporate Tax is a direct tax levied...
Preliminary > Economic Development > Budgeting > Taxation
About Base erosion and profit shifting (BEPS): BEPS refers to corporate tax planning strategies used by multinational companies to "shift" profits from higher–tax jurisdictions to lower–tax jurisdictions. Thu...
Preliminary > Economic Development > Indian Economy and Issues > Taxation
Why in news? The rubber goods industry, especially the non-tyre segment, is worried over the irrational inverted duty structure that has put several domestic manufacturing units uncompetitive. What is it? ...
Preliminary > Economic Development > Budgeting > Taxation
Why in news? In a unanimous decision, the Permanent Court of Arbitration (PCA) at The Hague on Friday ruled that India’s retrospective demand of Rs 22,100 crore as capital gains and withholding tax from Vodafone ...
Preliminary > Economic Development > Budgeting > Taxation
Why in news? Two-wheelers are neither a luxury nor sin goods and so merit a GST rate revision, Finance Minister Nirmala Sitharaman said at an industry interaction. Two-wheelers currently attract 28 percent GST, w...
Mains > Economic Development > Indian Economy and issues > Taxation
WHY IN NEWS: Prime Minister launched a ‘Transparent Taxation - Honouring the Honest’ platform on August 13, 2020 that provides faceless assessment and faceless appeal and a taxpayers’ charter. ...