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The central government has introduced a new online service called "Know Your PAN", [3] to for knowing your PAN number, verify your PAN [4] for new and existing PAN numbers. [5] Failure to comply with the provisions of Section 139A of Income Tax Act, a penalty of ₹10,000/- for each default is payable u/s.272B to the assessing officer. [6]
The council is headed by the union finance minister Nirmala Sitharaman assisted with the finance minister of all the states of India. The GST council makes recommendations to the Parliament of India to make or amend laws related to the taxes on goods and services in India. [48] The 54th GST Council Meeting was held on 9th Sept 2024. [49] [50] [51]
From 1 May 2018 onwards Ministry of Finance of Government of India started releasing monthly GST revenue collection data via official press release through Press Information Bureau. And to further improve transparency Government of India started issuing state-wise monthly collection data from 1 January 2020.
In September 2024, Protean announced its bid for the Income Tax Department of India's PAN 2.0 project. This initiative by the IT Department aimed to create, manage, and maintain the PAN database as well as consolidate PAN and Tax Deduction and Collection Account Number (TAN) services. [33]
A payment card number, primary account number (PAN), or simply a card number, is the card identifier found on payment cards, such as credit cards and debit cards, as well as stored-value cards, gift cards and other similar cards. In some situations the card number is referred to as a bank card number. The card number is primarily a card ...
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Introduction of permanent account number (PAN) to track monetary transactions; 21 of the 29 states introduced value added tax (VAT) on 1 April 2005 to replace the complex and multiple sales tax system [53] [55]
Growing and manufacturing tea in India: 40%: 60% Sale of latex, latex-based crepe or brown crepe manufactured from field latex or coalgum obtained from rubber plants grown by a seller in India: 35%: 65% Sale of coffee grown and cured by an Indian seller: 25%: 75% Sale of coffee grown, cured, roasted and ground by an Indian seller: 40%: 60%