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While major announcements may hold off until after the 2024 general elections, the upcoming Interim Union Budget presents an opportunity to address lingering concerns and set the stage for future economic growth. It is most likely that this Budget would…
Finance Minister Nirmala Sitharaman will present the interim budget on Thursday (February 1). Expectations for Budget 2024 include advocating for a progressive tax structure, targeted relief for SMEs, promoting digital transactions, and reviewing the GST structure. Tax incentives for sustainable practices and…
As Finance Minister Nirmala Sitharaman prepares to present the last (interim) Budget before the 2024 general elections on Feb 1, millions of taxpayers are on the edge of their seats, hopeful for favorable changes. Let’s break down some key terms…
The Union Minister Nirmala Sitharaman is going to present the interim budget before next general elections, on 1 February 2024. In general, no major tax amendments are pronounced in an interim budget, however some tax reliefs are still expected by…
Noting that the Indian economy has grown rapidly in an environment where other major economies have slowed down, the Confederation of Indian Industry (CII) has offered a few policy suggestions for the present government that it may announce in the upcoming interim…
Production linked incentive (PLI) scheme for space grade components, exemption from good and services tax (GST), tax holiday, concessional custom duty, lower tax rate on external commercial borrowing and others are on the budget wishlist of the Indian Space Association…
In order to keep the industry competitive on a global scale, the Gem and Jewellery Export Promotion Council (GJEPC) has urged the government to lower import duties on gold and cut and polished diamonds ahead of the Union Budget, news…
After a slew of GST demand notices, the industry is keen on an amnesty scheme in the interim budget, though experts are divided on the issue. Last year, goods and services tax (GST) authorities issued notices for around Rs 1.45…
Other sops asked for by the telecom industry from the FY25 Union Budget include exempting the levy of service taxes “on assignment of right to use natural resources” by operators, reducing customs duty on import of telecom equipment to zero…
As the interim Union Budget 2024 approaches, the Electric Vehicle (EV) manufacturers are expecting multiple measures to propel the industry forward. Some of them want support in the Goods and Services Tax (GST) rules while some others look for more…