Finance Ministry

Representational image only. | Photo Credit: Twitter/@FinMinIndia “Stellar macroeconomic management in the midst of unprecedented global challenges has put India on a quicker recovery path than has been the case in other nations,” the…

India’s year-old campaign to boost the rupee’s role in cross-border payments has made little headway, according to people familiar with the matter, underscoring the challenges for countries trying to reduce their dependence on the…

NEW DELHI: Finance minister Nirmala Sitharamanon Saturday said GST implementation has brought relief to the common citizens and helped raise revenues of the Centre and the states as her ministry reported that gross GST revenues in June…

Whether it is common consumer, whether it is the state government, a matter of tax buoyancy, whether it is making it digital and simpler, GST stands out as an exemplar,” said Union Minister for Finance & Corporate Affairs Nirmala…

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<!-- -->International credit card spends abroad will not attract Tax Collected at Source or TCS.New Delhi: Payments made by using international credit cards (ICC) during overseas visits will not attract Tax Collected at Source or TCS,…

Last Updated: July 01, 2023, 05:04 ISTPaying off your credit card bills is an effective way to avoid default or high-interest rates. (Representative image)The amendment to the Foreign Exchange Management (Current Account Transactions)…

The changes were expected to take place from July 1. The transactions conducted via international credit cards while abroad will not be counted under the Liberalised Remittance Scheme and will not be subject to TCS even after October…

<!-- -->The finance ministry issued a clarification on the matter through a series of tweets. (Representational)New Delhi: While credit card spends overseas will not attract tax collected at source now as such transactions have been…

A similar scheme titled ‘Special Assistance to States for Capital Investment for 2022-23’ was also executed by the Finance Ministry in the last financial year. File | Photo Credit: Reuters The Ministry of Finance has approved capital…