"01 February 2019" Archive - Page 2

Executive Summary of Finance Bill, 2019 ‐ Direct Taxes

Finance Bill,2019 has proposed amendments to  Standard deduction, Notional Income of two self-occupied property, Interest on capital borrowed for acquisition / construction of two self occupied  House properties, Exemption under Section 54, Interest on capital borrowed for acquisition / construction of two self occupied  House properti...

Read More

Do not detain goods / conveyances for classification disputes: Madras HC

M/s. Jeyyam Global Foods (P) Ltd. Vs Union of India (Madras High Court)

Madras High Court has directed Commissioner of commercial tax in the case of M/s. Jeyyam Global Foods (P) Ltd. Vs Union of India to instruct his officers not to detain goods / conveyances for classification disputes. ...

Read More

Rationalization of customs duty & procedures to boost Make in India initiative 

Rationalization of customs duty and procedures to give boost to ‘Make in India’ initiative  RFID technology to be used to improve export logistics  The Government has undertaken rationalization of customs duties and procedures to promote the “Make in India” initiative. While presenting the Interim Budget 2019-20 in Parli...

Read More
Posted Under: Income Tax |

GST led to increase in tax base, higher collections & ease of trade 

GST, the biggest taxation reform, led to increase in tax base, higher collections and ease of trade  Rates continuously reduced providing relief of about r. 80,000 crore annually to consumers Most items of daily use of poor and middle class now in the 0% or 5% tax slab Average GST collection in the current financial […]...

Read More
Posted Under: Income Tax |

FM: India now 6th largest economy in world with high growth

FM: India now 6th largest economy in the world with high growth  Fiscal deficit down to 3.4%; average inflation 4.6% FDI of USD 239 BN in five years Banks recover Rs 3 Lakh Crores in outstanding loans  Under the leadership of the Prime Minister,  Shri Narendra Modi, the country has witnessed its best phase of […]...

Read More
Posted Under: Income Tax |

IT Scrutiny and assessment to get fully online in next two year

Tax collections increased from Rs 6.38 Lakh Crore in year 2013-14 to almost Rs 12 Lakh Crore this year  80% growth in tax base; number of returns filed increased from 3.79 crore to 6.85 Crore Within the next 2 years, almost all verification and assessment of returns selected for scrutiny to be done electronically The […]...

Read More
Posted Under: Income Tax |

Government Unveils vision for the Next Decade 

Government Unveils vision for the Next Decade  The Government has unveiled its vision for the next decade, listing thereby ten most important dimensions in 2030. “With this comprehensive ten-dimensional Vision, we will create an India where poverty, malnutrition, littering and illiteracy would be a matter of the past. India would be a ...

Read More
Posted Under: Income Tax |

Government takes several measures to strenghthen MSMEs

Government takes several measures to strenghthen MSMEs  Gem platform extended to all CPSES Government undertakings to procure a fixed proportion of materials from women owned SMEs The Government has taken several measures to strengthen the Medium Small and Micro Enterprises (MSMEs). While a Scheme of sanctioning loans upto Rs. 1 crore in...

Read More
Posted Under: Income Tax |

Rs. 1330 Crore provided in Budget 2019 for Women Protection & Empowerment

Rs. 1330 Crore provided in the Interim Budget 2019-20 for the Mission for Protection and Empowerment for Women  An amount of Rs.1330 Crore has been provided in the Interim Budget for 2019-20 for the Mission for Protection and Empowerment for Women. This is an increase of Rs. 174 Crore over the Revised Estimates of 2018-19 […]...

Read More
Posted Under: Income Tax |

CBIC rescinds Circular No. 03/01/2018-IGST dated 25th May 2018

Circular No. 04/01/2019-IGST 01/02/2019

Seeks to make amendments in the earlier issued circulars in wake of amendments in the CGST Act, 2017 (which shall come into force w.e.f. 01.02.2019) Circular No. 04/01/2019-IGST F. No. CBEC-20/16/04/2018 – GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing **...

Read More

Search Posts by Date

June 2021
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
282930