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The tourism and exports industries are pushing for tax refunds to overseas tourists on goods being taken outside India, on the lines of the provisions in popular destinations such as the UK, UAE and Singapore, to attract international travellers and…
The Union Budget 2023-24 may propose a dispute resolution scheme for exporters, which will offer a one-time opportunity to settle past issues of disagreement involving export obligation defaults. Read more at : Business Standard
The budget session of the parliament will commence from 31 January, 2023, Union Parliamentary Affairs Minister Pralhad Joshi has informed on 13 January. The session will have 27 sittings spread over 66 days with usual recess. It will continue till…
The Union Budget 2023-24 is likely to roll out the legal and operational framework for adopting the permanent account number (PAN) as a single business identification. This will apply to all businesses securing approvals, a senior finance ministry official informed…
Finance Minister Nirmala Sitharaman may get some satisfaction on limiting the fiscal deficit but a niggling item in her account book is the surge in amount under the head ‘Tax Revenue Raised but Not Realised’. The figures are high enough…
India’s upcoming Union Budget should hopefully incentivize taxpayers to move towards an exemption-less direct tax system, which would increase revenue, broaden the tax base and reduce compliance cost and litigation, according to the chairman of the Economic Advisory Council to…
Indian Coir industry which is an important cottage industry has urged the government to address the Ocean freight GST in the upcoming budget as it is heavily affecting the small scale industry. Speaking exclusively with KNN, an official at Galuku…
After witnessing a low growth post the Covid-19 pandemic, the consumer durables and electronics industry has considerably put itself back to growth. The summer seasons of 2022 and 2021 saw a positive trend for the industry. Household appliances and electronics…
Ahead of the Union Budget for 2023-24, some NGOs have put forward some suggestions for the betterment of the country’s rising elderly population — increase in old age pension, more relief in income tax and GST exemption on services and…
The finance minister Nirmala Sitharaman will present the fourth budget of the second term of the Modi government on February 1, 2023. Impacted by the Covid-19 pandemic, geopolitical issues and the weakening of the Indian currency over the last three…