Hasmukh Adhia News

Adhiya's appointment has been approved by President Ram Nath Kovind who is also the visitor of the university.

Fifty-nine-year-old AN Jha is a 1982-batch IAS officer of Manipur Tripura cadre.

Pandey, a 1984-batch IAS officer of the Maharashtra cadre will continue to head the Unique Identification authority of India (UIDAI) as its CEO and will also hold his position as the Chairman of GSTN.

Both the Finance Minister and the Finance Secretary are out of action for one reason or another.

Last week, the Finance Ministry had released initial figures of the GST collection for February which showed a decline in revenue by Rs 1,144 crore compared to January. 

Hasmukh Adhia said he will discuss the issue of fall in local markets with Finance Minister Arun Jaitley.

Adhia, who is also the revenue secretary, said the income of government from Securities Transaction Tax (STT) is a paltry Rs 9,000 crore.

Adhia said while calculating the GDP figure this time, the indirect tax number that was taken was based on certain calculations.

The government's demonetisation drive was meant to cleanse the system and do away with black money, Finance Secretary Hasmukh Adhia said here on Saturday.

FMCG firms and big corporates will have to ensure that retailers pass on the benefit of GST rate cut to consumers, Hasmukh Adhia said on Saturday.

"The Appointments Committee of the Cabinet has approved designating Hasmukh Adhia, Secretary, Department of Revenue, Ministry of Finance as Finance Secretary," said the order issued by the Department of Personnel and Training.

He said the Goods and Services Tax (GST), which amalgamates more than a dozen central and state levies like excise duty, service tax and VAT, will take about a year to stabilise.

The government had on Friday reversed its August order of bringing gems and jewellery dealers under the purview of the reporting requirement of the Prevention of Money Laundering Act (PMLA).

A nominal 0.1 per cent tax will be levied on merchant exporter as they themselves do not manufacture.

A high-level meeting chaired by Finance Minister got underway on Tuesday evening to review the economic situation.

In a presentation before the Committee, the Gems and Jewellery Industry demanded exemption from Integrated GST (IGST) on procurement of precious metals from the nominated agencies for the purpose of manufacture and export of jewellery.

This will be its first meeting ever since the constitution of the panel on September 12.

Last year, the Central Board of Direct Taxes (CBDT) had set up 'local committees' comprising senior officers in each region to dispose such grievance and complaint petitions within a short period of time.

 The Goods and Services Tax (GST) will help bring down the inflation by one to two percent by the end of this year, Revenue Secretary Hasmukh Adhia has been quoted, as saying.