232 ViewsThe Lok Sabha on March 25 passed the Finance Bill 2022, which gives effect to new taxation, thus completing the Budgetary exercise for 2022-23 fiscal. The Finance Bill was approved by the Lower House after accepting 39 official amendments moved by Finance Minister Nirmala Sitharaman and rejecting the amendments proposed by the opposition by […]
Finance Minister asks tax officers to address taxpayer concerns
192 ViewsFinance minister Nirmala Sitharaman on Monday highlighted that the Union Budget 2022-23 provided a tax predictable regime and vision for the next 25 years, in a post Budget interaction with industry in Bengaluru. She said the PM Gati Shakti project will help the industry by providing logistical convenience. “This Budget stands more for continuity, […]
UNION BUDGET 2022-23 – CHANGES PROPOSED IN GOODS AND SERVICES TAX
360 ViewsThe Finance Bill, 2022, has proposed various changes in CGST Act, 2017. The gist of proposed change are incorporated from clause 99 to clause 117 of the Finance Bill, 2022 summarised as under: 1. The entitlement of ITC with respect to supply is allowed, if such credit has not been restricted in the details […]
Union Budget 2022-23 is a direction setting budget aimed at making India future ready – Shri Piyush Goyal
164 ViewsSource: Press Release dated 05.02.2022 Union Minister for Commerce and Industry, Textiles and Consumer Affairs, Food and Public Distribution, Shri Piyush Goyal today termed the Union Budget 2022-23 as a direction setting budget, addressing both macro-economic and micro-economic concerns, looking at inclusive development. Speaking at a Public Function to explain the nuances of the […]
A DRI Story
136 ViewsBy, G Natarajan, Advocate, Swamy Associates Note: This article was published in TIOL The high rates of customs duties, the penchant for foreign articles and the volatile nature of our country’s border after its Independence has given rise to various smuggling operations and it was felt that a centralised agency is required to deal […]
Union Budget 2022-23 to be presented on 1st February, 2022 in Paperless form
353 ViewsSource : Press Release dated 27.01.2022. To mark the final stage of the Union Budget making process, sweets were provided to the core staff due to undergo “lock-in” at their workplaces, instead of a customary Halwa ceremony every year in view of the prevailing pandemic situation and the need to observe health safety protocols. […]
Income tax slab is likely to be kept same in the upcoming Finance Budget
30 Views
Finance Ministry seeks Ideas/Suggestions for Annual Budget 2021-22
146 ViewsPress Release dated 13.11.2020 from Ministry of Finance Over the years, the Ministry of Finance has been holding pre-budget consultations in North Block with Industry / Commerce Associations, Trade Bodies and Experts to seek ideas for the Annual Budget. Owing to the pandemic situation, the Ministry has received suggestions from various quarters for holding […]