Several tax proposals aim to promote investments in start-ups and sunrise industries in the country Lower 25% corporate tax rate is to be applicable to those with annual turnover upto Rs.400 crore instead of the current limit of Rs.250 crore Increase in surcharge by 3% for those with taxable income between 2-5 crore rupees and […]
Indian economy becoming a 3 trillion dollar economy this year with World’s 3rd largest economy in terms of Purchasing Power Parity, government’s intention to invest Rs. 100 lakh crore in infrastructure in next 5 years, enhaced target of over one lakh 5,000 crore of disinvestment in 2019-20, proposal to provide Rs.70,000 crore to PSBs to boost credit, […]
Is reversal under rule 6(3) of the Cenvat Credit Rules 2004 additionally required for all the services specified in notification 26/2012-Service Tax dated 20-6-2012?
The Union Minster of Finance and Corporate Affairs, Nirmala Sitharaman said that during the second refund fortnight, Rs. 6,087 crore IGST refunds and Rs. 1, 548 crore ITC refunds were sanctioned by CBIC. Presenting the Union Budget 2019-20 in Parliament today, she said that in case of IGST refunds for goods exported out of India, […]
Income Tax Highlights of Budget 2019 1. No change in Income Tax in case of income up to Rs 2 crores. 2. Income Tax return can be filed using either Aadhar Number or PAN No. 3. Surcharge – √ Taxable income from Rs 2 crore to Rs 5 crore- Surcharge has been increased from 15% […]
INDIRECT TAXES 1. Benefiting Domestic Industries: Custom duty on imports of many products have been increased such as Automobile parts, Electronic & electrical equipment etc. This will give boost to the domestic industry. 2. Resolving litigation: Sabka Vishwas (Legacy Dispute Resolution) Scheme proposed for quick disposal of pending 3.65 Lacs Crore -central excise and service […]
Vision for $5 trillion economy driven by investment Transforming rural lives New Jal Shakti Mantralaya to ensure Har Ghar Jal Enhancing ease of direct and indirect taxation Strengthening connectivity Infrastructure Gandhipedia to sensitize society India’s soft power Harnessing India’s space abilities PUSH TO INVESTMENT: INFRASTRUCTURE DEVELOPMENT – – GROWTH & MACRO-ECONOMIC STABILITY: VISION FOR $5 […]
While the global economy is battling with strong headwinds, India’s economy is seeing a robust growth and is on the path to emerge out as one of the fastest growing economies in the world. A day after ‘Unfettered Sky Blue’ Economic Survey, breaking away from tradition, Finance Minister Nirmala Sitharaman today presented Modi government’s first Budget […]
Union Budget stresses the need for heavy investment in infrastructure, Digital Economy and job creation in small and medium firms In Transport sector, budget proposes PPP in railways, roadmap to make India a hub of maintenance, repair and overhaul and aircraft financing / leasing activities and Development of state road network Blueprint for developing gas […]
Scheme of Fund for Upgradation and Regeneration of Traditional Industries (SFURTI) aims to set up more Common Facility Centres for generating sustained employment opportunities SFURTI envisions 100 new clusters in 2019-20 to help 50,000 artisans economically 10,000 new Farmer Producer Organizations to be formed to ensure economies of scale for farmers over the next five […]
