This is the first budget after enforcement of GST.Finance Minister Shri Arun Jaitley presented general Budget for 2018. Let us have a simple review on the Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors.
Corporate Tax of 25% extended to companies with turnover up to Rs 250 cr in financial year 2016-17 No Change In Tax Slabs For Individuals. 100% deduction of income for Producer Companies. Standard deduction of Rs 40,000 allowed for transport, medical reimbursement for salaried tax payers
As per the government wish National E-Way Bill is implemented in all over India from 1st Feb-2018 for interstate transaction, and around 13 states also implemented Intra-state E-Way system from 1st feb-2018 on believing that portal developed by NIC can handle the load of whole India.
A lease is a contractual arrangement between Owner (lessor) & user (lessee) whereby one party, the lessor, grants the right to use a particular assets (such as a parcel of land, building, equipment, or machinery etc) for a specific period and under specified conditions to the other party, the lessee.
The notification notifying ICDS is contrary to the settled law since its implementation would nullify the judgements of the Supreme Court and the High Courts. This method of overriding the binding decision of Courts by the executive was contrary to law explained in Shri Prithvi Cotton Mills Limited v. Broach Borough Municipality (1969) 2 SCC 283.
Finance Minister Mr Arun Jaitley has placed a huge emphasis on agriculture and rural India, allocating bulk of resources to tinterior landscape, while helping the middle class salaried employees along with relief to senior citizens, measures which would boost consumer demand and help revive economic growth, said ASSOCHAM president, Mr Sandeep Jajodia.
Finance Minister Arun Jaitley has done well by announcing measures to help MSMEs and job creation in the last full Budget of the current government
This budget is expected to give a boost to hopes and aspirations of 125 crore people of the country. It is expected to accelerate the development process of the country. It is farmer friendly, common man friendly, business environment friendly as well as development friendly. E
The date on which the utility of obtaining the e-CST declarations shall start on MAHAGST portal will be notified soon through a Trade Circular. In the meantime, the nodal officers with whom the e-CST applications of the dealers registered prior to 25/05/2016, for periods up to 30 /06/2017 are pending have been instructed to dispose off the pending application expeditiously.
ANDHRA PRADESH Inter-State supply – Notification No. – G.O.Ms.No.34, Dt. 24/01/2018 Intra-State supply – Notification No. – G.O.Ms.No.34, Dt. 24/01/2018 ARUNACHAL PRADESH Inter-State supply – Not yet notified Intra-State supply – Not yet notified ASSAM Inter-State supply – Circular No. 01/2018-GST, No. CT/GST-15/2017/64, Dt. 28/01/2018 Intra-State supply – Circular No. 01/2018-GST, No. CT/GST-15/2017/64, Dt. 28/01/2018 […]
