Updates

The Union Budget 2020-21 presented by Our Honourable Finance Minister Smt Nirmala Sitharaman, appears to have been presented with an intention:

 ·        To provide overall Economic development of the country withfocus on development in Agriculture, Rural Sector, Infrastructure, Sanitation,Healthcare, Education, Digitization etc.

·        To incentivise exports

·        To promote Manufacturing sectors in line with the Make in Indiaideology of the Modi Government

·        To promote provide quality learning experience and

·        To provide momentum, to the buoyancy in  taxes through

o  tax-incentives,

o  reducing tax rates for co-operative society, individual andHindu undivided family (HUF),

o  deepening and widening of the tax base,

o  removing difficulties faced by taxpayers,

o  Rationalisation of Tax provisions

o  curbing tax abuse and enhancing the effectiveness, transparencyand accountability of the tax administration.

Attached herewith is the summary on Union Budget 2020-21, hope you have a pleasant read

Please see the attachment.

Detailed Summary of Union Budget 2018-19 covering

• Allocations

• Direct Tax Proposals

• Indirect tax Proposals

Please see the following attachment for details.

Allocation details

With focus area in allocation of funds to : 

·        Strengthen Rural and Agricultural sector

·        Infrastructure sector

·        Improve the quality of Education

·        Provision of Good health benefits for Lower and Middle class

·        Benefits to Senior Citizens

·        Good governance and Digitisation

Our Honourable Finance Minister Shri Arun Jaitely presented Union Budget 2018-19, it being the last full term budget of ModiGovernment before Elections.

Attached herewithbrief summary of the Tax proposal of Union Budget 2018-19.

·        Direct tax Proposal

·        Indirect tax Proposal

The25th GST Council meeting held on 18th January, 2017  gave us a mixed bag of changes in the form ofchanges in GST rates, providing relief in the form of increasing/providing exemptions with or without sunset clauses in certain cases and/or providingconcessional tax rates as in housing sector, issuing clarifications etc.

Some details are attached here.

GST Amendments applicable w.e.f. 15th November 2017. Find notifications attached below.

CGST Notification 41

CGST Notification 42

CGST Notification 43

CGST Notification 44

CGST Notification 45

CGST Notification 46

CGST Notification 47

GST Circular for extension

Rules on E-way bill as notified by CBEC. Please find details here. 

Some basic concepts of GST for review attached here.

See the attachment

Please see this attachment to link Aadhar card with PAN card.