Diabytes
India revenue News
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India Ratings expects the states' revenue account on aggregate to clock a deficit of 0.5 percent of GDP in FY20 due to a higher growth in revenue spends than revenue receipt.
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The Reserve Bank today changed the definition of "networth" for entities authorised under the Payment and Settlement Systems Act.
The GST will subsume indirect taxes like excise duty and service tax at the central level and VAT on the states front, besides local levies.
The Centre has said interests of the states will be fully taken care of while finalising the structure for Goods and Services Tax (GST).
The government faces "a challenge" in achieving the budgeted indirect tax target in the current fiscal year, the revenue secretary said on Monday.
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