Stay updated
A survey conducted by real estate association CREDAI and investment management company Colliers found that the majority of the real estate developers expect tax rationalisation, sops for affordable housing, and single window clearance from Union Budget 2024, slated to be tabled sometime later this month.
The Union Budget for the financial year 2024-25 is scheduled to be presented in the Lok Sabha on July 23. The Parliament’s Budget Session is set to take place from July 22 to August 12.
The Coimbatore District Small Industries Association (CODISSIA) has appealed to the Union government to relax some of the mandates under GST, Income Tax, and bank loans for Micro, Small and Medium-scale Enterprises (MSMEs) to spur growth.
Sivakasi in Tamil Nadu is known for its firecracker industry. The industry having a turnover of around Rs 5,000 crore per annum expects to reduce 18 per cent GST on the products in the budget 2024
The jewellers in Rajasthan’s Jaipur have many hopes from the upcoming Union Budget and they shared their wish-list with PTI. The goldsmiths have a variety of demands including relief in GST to increase limit in cash transactions.
The Finance Ministry is contemplating an increase in the standard deduction limit under the new tax regime, according to CNBC Awaaz report.
Mercedes-Benz India on Tuesday said that the taxation on electric or environment-friendly vehicles should continue with lesser tariff, like the five per cent GST for the next eight-10 years, so that companies like them can do better planning for next generation mobility.
Centre should reduce the Goods and Services Tax (GST) on the sector, allocate more funds for skill development, and provide incentives to invest in sustainable tourism. Currently, different services in hotels and restaurants attract different GST slabs. FHRAI said that a 12 per cent rate should be imposed across all categories.
CBIC Chairman Sanjay Kumar Agarwal on Wednesday said the decisions taken at the GST Council meeting last month, like amnesty scheme for initial years of rollout and sunset date for profiteering complaints, will be incorporated into the Finance Bill to be tabled in Parliament, along with the Budget later this month.
With the Union budget likely to be presented this month, the finance bill is likely to include enabling an amendment to the Goods and Services (GST) Act that empowers the GST Council to retract tax notices sent retrospectively. The two segments that will particularly benefit are online gaming and corporate guarantee, two people familiar with the development said.