The government is making a concerted effort to recover direct and indirect tax arrears amounting to over ₹46.57 trillion, with the Central Board of Direct Taxes (CBDT) launching a campaign to recover ₹14.97 trillion in net collectible demands and the Central Board of Indirect Taxes and Customs (CBIC) ₹4.27 trillion, two officials said.
To put the numbers in perspective, the total outstanding is around 14% of India's GDP. To be sure, a significant portion is unlikely to be recovered, either because of legal issues, or because the companies involved have no way of paying that kind of money.
Denne historien er fra January 09, 2025-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra January 09, 2025-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Insurance merger on hold, govt may pick one for sale
The Centre may drop its plan to merge three general insurers and instead pick one of them for privatization this fiscal year, two people aware of the development said.
Ireda Plans to Raise ₹5,000 Cr Via QIP
Indian Renewable Energy Development Agency (Ireda) on Thursday said its board has approved a plan to raise up to ₹5,000 crore fund through the qualified institutions placement (QIP) route.
Jashvik to pick up Smart Vision stake
Private equity (PE) firm Jashvik Capital Advisory LLP is acquiring a majority stake in Hyderabad-based eye care hospital chain Smart Vision Eye Specialities Pvt Ltd, said a person close to the deal.
Nominee Laws at Crossroads: From Trustee to Ownership, A Case for Reforms
The notion of a nominee being a mere trustee complicates the case for asset succession
Cheer for UltraTech as Q3 margin hit less than feared
The heightened competition in India's cement sector continues to take its toll on cement makers.
Inside the Seismic Shift in the Namkeen World
Health is wealth, so many brands are coming up with all kinds of products to reshape the way Indians snack
Adani Infra seeks CCI clearance
Adani Infra has sought approval from fair trade regulator Competition Commission of India (CCI) for acquiring a majority stake in PSP Projects Ltd.
A 'Little Prince' and 8 billion gardeners to our rescue
Have you ever looked at your house and thought, \"This place needs a complete makeover?\" You know the drill—pack your bags, move to a hotel, let the professionals work their magic, and return to your freshly renovated paradise.
India will clock fastest growth rate: Andhra CM Naidu at Davos
Andhra Pradesh chief minister N. Chandrababu Naidu has said that India's golden era has started and the country will clock the fastest growth rate.
American employees have lost their labour market leverage
Their pandemic gains are over as the power balance tilts away
