Taxpayers registered under the new goods and services tax (GST) regime that is set to be implemented from 1 July will be assigned a rating.

GSTN will provide common and shared IT infrastructure to the central and state governments and to the taxpayers.

Allaying apprehension of spike in prices of goods and commodities after the roll out of the GST. FM says tax rates will be kept at the current levels so as not to have any inflationary impact.

1,200 applications from accused seeking mercy under compounding of offences rules with several of them approaching authority’s post-demonetisation.

The exemption under section 54EC up to R50 lakh would be available only if the capital gain arising from the transfer of a long-term capital asset, is invested in the specified bonds within six months from the date of such transfer.

India has decided to peg the peak goods and services tax (GST) rate at 40% in the legislation instead of 28%, giving it the flexibility to raise rates without having to reach out to Parliament.