Budget news

E-Book on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Free Updated E-Book on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 as on October 09, 2019 by Mr. Bimal Jain In the Union Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (SVLDRS, 2019 or the Scheme) to close the pending legacy disputes of Service Tax and Excise....

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Posted Under: Excise Duty | ,

Sabka Vishwas – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019

Sabka Vishwas – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019 Government expects Scheme to be availed by large number of taxpayers for closing their pending disputes relating to legacy Service Tax and Central Excise cases. In the Union Budget 2019-20, the Hon’ble Finance Minister announc...

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Posted Under: Excise Duty |

7 Post Budget 2019 Suggestions by ICAI

DIRECT TAXES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NEW DELHI POST-BUDGET MEMORANDUM – 2019 A. INTRODUCTION 1.0 The Council of the Institute of Chartered Accountants of India considers it a privilege to submit this Post-Budget Memorandum to the Government. 1.1 In this memorandum, we have suggested certain amendments to the prop...

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Posted Under: Excise Duty |

Amendments proposed in Finance (No. 2) Bill, 2019

List No. 3′ LOK SABHA ——– FINANCE (NO.2) BILL, 2019 [As introduced in Lok Sabha] Notice of Amendments S.No Name of Member and text of Amendment Clause No. SMT. NIRMALA SITHARAMAN: 7 Page 6, for lines 47 to 49, substitute.- “(viii) income arising outside . India, being any sum of money referred to in sub-clau...

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Posted Under: Excise Duty |

Tax Deducted at Source under Section 194M of Income Tax Act, 1961

As the Announcement under UNION BUDGET 2019 had proposed a new section 194 M of the Income Tax Act,1961, which requires an Individual or an HUF, to deduct TDS @5%, where they make payment which exceeds Rs. 50 lakh in a year to a contractor or to a professional. Any Person Other than Those who […]...

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Posted Under: Excise Duty |

Pollution Free Environment announced in Union Budget 2019

In Union Budget 2019, finance minister, Nirmala Sitharaman announced the major solution to our environment is to making our country more economy efficient as well as environmental efficient too, “Aiming to becoming a global hub for electric vehicle manufacturing, the government has already moved GST council to lower the GST rate on...

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Posted Under: Excise Duty |

Budget Speech Summary – Part A

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 P...

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Posted Under: Excise Duty |

Over 90 Percent IGST Refund Claims Disposed by CBIC 

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, [&hellip...

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Posted Under: Excise Duty |

Union Budget stresses need for heavy investment in infrastructure

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 Bluepr...

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Posted Under: Excise Duty |

SFURTI to set up more Common Facility Centres for generating sustained employment opportunities 

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 sc...

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Posted Under: Excise Duty |

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