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...

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...

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? ...

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 ...

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...

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. ...

IN NEWS: The Directorate of Revenue Intelligence (DRI) recently busted a major wildlife smuggling syndicate and seized 22 exotic birds which were being illegally brought into India from Bangladesh. ABOUT DRI: ...

WHY IN NEWS? A NITI Aayog member has favored imposing a Border Adjustment Tax (BAT) on imports. ABOUT BAT: It’s a duty that is proposed to be imposed on imported goods in addition to the customs le...

In news: RBI raises borrowing limit to 3% of SLR under Marginal Standing Facility. Under the marginal standing facility (MSF), banks can borrow overnight at their discretion by dipping up to 2% into the Statutory L...

Why in News? The RBI Governor recently stated that the apex bank has several armoury of weapons and it will not hesitate to deploy them. Two of the measures suggested by the governor are Forex Swap and LTRO (Long T...