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    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
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    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
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    Andhra records 21 per cent growth in net GST collections till July
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    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
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    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
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    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
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    August 3, 2026
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    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
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    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
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    August 1, 2026
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    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
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    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
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    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.

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      Rajaswa Gyan Sangam 2017 – Highlights

      September 4, 2017

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      Government of India

      Ministry of Finance

      Department of Revenue

      Central Board of Direct Taxes

      New Delhi, 2nd September 2017

      PRESS RELEASE

      Rajaswa Gyan Sangam 2017 – Highlights

      The Hon’ble PM inaugurated the two day Rajaswa Gyan Sangam 2017 in the presence of Union Minister of Finance and Ministers of State (Finance) on 01/09/2017. The Hon’ble PM urged the officers to improve their work culture and incorporate a sense of urgency and measurability in their performance. He exhorted officers to fix clear targets to improve country’s tax administration by 2022, being the 75th anniversary of Independence. The Hon’ble PM desired that a push be given to E-Assessment, reduction of pendency of appeals, use of data analytics to track undeclared income and increase tax revenue and improved coordination with States for GST. The Hon’ble FM complimented CBDT in its proactive role in fighting tax evasion and unearthing substantial quantums of black money. He also congratulated the collaborative efforts of the officials of Centre & State in smooth roll out of GST. The Gyan Sangam also included joint sessions by Sadhguru Jaggi Vasudev who spoke on “Inner Engineering- Technologies for Well Being” and a session addressed by Shri KV Chowdary, Central Vigilance Commissioner who spoke on the importance of probity in public life. Short films by CBDT and CBEC were screened on the occasion.

      These two days of Gyan Sangam have resulted in brain storming on several core functional issues and the bottlenecks in implementation of policies. Technical sessions were held on Effectiveness of Tax Administration, Maximization of Revenue, Litigation Management, E-Assessment, Tax Evasion and Prosecution, Widening of Tax Base, Tax Payer Services, GST and modernization of Customs. A few highlights are outlined hereunder:

      1. It was decided that Assessing Officers be encouraged to maximize e-assessment in a phased manner and to ensure that work be completed online so that there is complete transparency.

      2. As a step towards effective litigation management, CBDT aims to achieve the twin objectives of substantially reducing the number of appeals and the disputed demand before CIT(Appeals). The focus is to dispose off 70% of smaller appeals and 30% of high demand appeals including 100% of appeals involving disputed demand of ₹ 50 crore and above.

      3. Strategies for revenue maximization were discussed at length especially since the CBDT has been tasked to collect revenue of ₹ 9.80 lakh crore in the present fiscal. The officers were urged to utilize data effectively such that the target for collection of Personal Income Tax should not only be met but also be exceeded.

      4. The session on taxpayer services and grievances outlined the development of tax payer services as a separate vertical. The good work done in the field of redressal of grievances was highlighted as almost 85% of grievances of CBDT have been disposed off online through the e-nivaran portal. There was emphasis on redressal of grievances for both CBDT and CBEC.

      5. Strategies for widening of tax base were discussed in detail with special focus on verification of data collected during demonetization and SFT. The CBDT aims to add a sizeable number of new taxpayers in the current fiscal. It was directed that special focus be given to popularize the Operation Clean Money portal such that an environment of voluntary compliance can be created.

      6. The technical sessions on GST and GSTN focused on implementation issues faced in GST. CEO of GSTN Shri Prakash Kumar presented the performance of GST portal.

      7. In the CBEC session, various issues were discussed and main thrust was on “Ease of Doing Business”, Litigation Management and HR related issues. President of CESTAT addressed senior officials of CBEC and shared pragmatic thoughts on the litigation matters of CBEC. There was also a Sunshine session to highlight a formation's initiative in improving taxpayer services or individual initiative outside of the regular area of responsibility. The Refund Sms Sewa, instant feedback survey from international passengers, barcoding confiscated goods for disposal etc, the online portal of blood donors or Go Green building of NACIN Bengaluru was also showcased.

      The Revenue Secretary, in his concluding remarks emphasized that Revenue was a cross sectoral subject that required in depth understanding and coordination between both departments. He encouraged the officers of both CBDT and CBEC to share best practices with each other regularly. He also underlined the importance of increasing efforts to garner revenue in light of the data that is available post demonetization. He also emphasized that the Hon’ble Prime Minister’s vision of a faceless assessment i.e. e-assessment should be turned into a reality. He also stressed that genuine grievances of taxpayers should be disposed off on priority and taxpayers should be treated with courtesy.

      (Surabhi Ahluwalia)

      Commissioner of Income Tax

      (Media & Technical Policy)

      Official Spokesperson, CBDT

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      ActsIncome Tax