Budget

Finance Act 2020

161 ViewsMINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 27th March, 2020/Chaitra 7, 1942 (Saka) The following Act of Parliament received the assent of the President on the27th March, 2020, and is hereby published for general information:— THE FINANCE ACT, 2020NO. 12 OF 2020 An Act to give effect to the financial proposals …

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Major Reforms Proposed in Administration of GST Regime| Budget2020

648 ViewsMinistry of Finance Major Reforms Proposed in Administration of GST Regime Simplified GST Return to be Implemented from 1st April, 2020 To weed out Dummy or Non-Existent Units Aadhaar Based Verification of Taxpayers to be introduced Dynamic QR-Code proposed for Consumer Invoices A simplified GST return will be implemented from the 1st April, 2020. While …

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DDT proposed to be removed; to lead to estimated annual revenue forgone of Rs. 25,000 crore

227 ViewsMinistry of Finance DDT proposed to be removed; to lead to estimated annual revenue forgone of Rs. 25,000 crore Tax Concessions Announced for Sovereign Wealth Funds of Foreign Governments, and other Foreign Investments in Priority Sectors Deadlines for relaxation for affordable housing extended by one year; Concessional Corporate Tax Rate of 15% to Extend …

DDT proposed to be removed; to lead to estimated annual revenue forgone of Rs. 25,000 crore Read More »

Increase in Customs Duty on Footwear and Furniture to promote domestic MSMEs| Budget 2020

196 ViewsMinistry of Finance Increase in Customs Duty on Footwear and Furniture to promote domestic MSMEs 5%  Health Cess proposed to give impetus to the Domestic Medical Equipment Industry; proceeds to be used for creating health infrastructure in aspirational districts Anti-dumping duty on PTA being abolished in the larger public interest Basic customs duty on …

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MSMEs turnover threshold for Audit increased 5 times to Rs 5 Crore| Budget 2020

249 ViewsMinistry of Finance MSMEs turnover threshold for Audit increased 5 times to Rs 5 Crore Increased limit to apply only to Businesses carring out less than 5% of their business transactions in cash Significant tax relief to start-ups In order to reduce the compliance burden on small retailers, traders, shop keepers who comprise the …

MSMEs turnover threshold for Audit increased 5 times to Rs 5 Crore| Budget 2020 Read More »

A Corruption-Free, Policy Driven good Governance and a Clean & Sound Financial Sector to Ensure Ease of Living to All Citizens

543 ViewsMinistry of Finance A Corruption-Free, Policy Driven good Governance and a Clean & Sound Financial Sector to Ensure Ease of Living to All Citizens National Recruitment Agency Proposed For Conduct of Computer-Based Online Common Eligibility Test for Recruitment to Non-Gazetted Posts New National Policy on Official Statistics to use Latest Technology to Enable Real …

A Corruption-Free, Policy Driven good Governance and a Clean & Sound Financial Sector to Ensure Ease of Living to All Citizens Read More »

Finance Minister proposes wide-ranging facilitation measures in Direct Tax Regime | Budget 2020

234 ViewsMinistry of Finance Finance Minister proposes wide-ranging facilitation measures in Direct Tax Regime ‘Vivad Se Vishwas’ scheme proposed to reduce litigations in direct taxes; scheme to remain open till 30th June, 2020 Faceless appeals proposed to eliminate human interface for imparting greater transparency in dispute settlement CBDT to adopt a taxpayers’ charter; details to …

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‘Ease of Living’ – central Tenet of Union Budget 2020-21 | Budget 2020

209 ViewsMinistry of Finance ‘Ease of Living’ – central Tenet of Union Budget 2020-21 Budget interwoven around themes of Aspirational India, Economic Development and a caring society Backdrop of budget provided by proliferation of cutting edge technologies alongwith highest ever cohort of productive age population Aim to achieve seamless delivery of services, improve physical quality …

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Enhanced Insurance Cover for Exporters; Affordable and Accessible Credit; Reduction in Interest Rates; FM Announces NIRVIK Scheme for Exporters in Union Budget 2020-21

279 ViewsMinistry of Commerce & Industry Enhanced Insurance Cover for Exporters; Affordable and Accessible Credit; Reduction in Interest Rates; FM Announces NIRVIK Scheme for Exporters in Union Budget 2020-21 The Finance Minister, Nirmala Sitharaman, announced the NIRVIK scheme in the Union Budget 2020-21 in Parliament today. It will provide high insurance cover for exporters and …

Enhanced Insurance Cover for Exporters; Affordable and Accessible Credit; Reduction in Interest Rates; FM Announces NIRVIK Scheme for Exporters in Union Budget 2020-21 Read More »

FM Announces Setting up of Investment Clearance Cell to Provide “End-To-End” Facilitation and Support to Youth #Budget2020

332 ViewsMinistry of Commerce & Industry Sovereign Wealth Fund of Foreign Governments in Priority Sectors to Get 100% Tax Exemption in Interest, Dividend and Capital Gains Income Encourages Manufacture of Mobile Phones, Electronic Equipment and Semi-Conductor Packaging The Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman, has said that entrepreneurship has always been the …

FM Announces Setting up of Investment Clearance Cell to Provide “End-To-End” Facilitation and Support to Youth #Budget2020 Read More »

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