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PLI scheme for electronics manufacturing sees incremental investment of Rs 8,390 CrG20 finance leaders agree to tax super-rich but forum not yet readyDPIIT promotes green logistics industry balancing economic growth and environmentIndia, US ink pact to stymie illegal trafficking of cultural propertyRailways expands tracks by 31,180 kmFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaGovt to enhance reach of Indian Digital Public InfrastructureFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaGovt provides incentives to small tea growersEU penalises 5 countries for infringing budget rulesI-T-Transaction involving transfer of unutilised shares cannot be deemed to be sale of shares so as to attract levy of Long Term Capital Gain u/s 112: ITATChina says Relations with Japan at critical stageST - Once the activity of appellant that is of forfeituring the amount of earnest money is not a declared service, question of retaining said money as consideration for rendering such service becomes absolutely redundant: CESTATEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesFM favours debt reduction but sans affecting economic growthKargil Victory Day: PM warns Pak against practising terrorismChina pumps in subsidies worth USD 41 bn into car sectorMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SC
 
Govt culls Rs 17.3 lakh crore tax revenue net to Centre by Feb-end

By TIOL News Service

NEW DELHI, APR 01, 2023: THE Government of India has received Rs.20,39,728 crore (83.9% of corresponding RE 2022-23 of Total Receipts) upto February, 2023 comprising Rs.17,32,193 crore Tax Revenue (Net to Centre), Rs.2,48,635 crore of Non-Tax Revenue and Rs.58,900 crore of Non-Debt Capital Receipts. Non-Debt Capital Receipts consists of Recovery of Loans of Rs.20,229 crore and Miscellaneous Capital Receipts of Rs.38,671 crore. Rs.8,08,088 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India upto this period which is Rs.20,266 crore higher than the previous year.

Total Expenditure incurred by Government of India is Rs.34,93,590 crore (83.4% of corresponding RE 2022-23), out of which Rs.29,03,363 crore is on Revenue Account and Rs.5,90,227 crore is on Capital Account. Out of the Total Revenue Expenditure, Rs.7,98,957 crore is on account of Interest Payments and Rs.4,59,547 crore is on account of Major Subsidies. 


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