Budget 2018-19

Through this, the government will address inverted duty structures-finished goods facing lower duty than the inputs that go into them   Make in India is set to get a major boost in Budget 2018 through a customs duty rejig, according to a report. However, these measures are likely to pinch customers' pocket as they could make imported high-end mobile phones and electronic goods expensive. Basic customs duty may be imposed on components such as printed circuit boards, camera modules and displays that are allowed duty-free entry now. Custom duty rejig in Budget 2018 Customs Duty may be revised on certain other selected goods. Through this, the government can address inverted duty structures—finished goods facing lower duty than the inputs that go into them. Post implementation of Goods and Services Tax (GST), customs duty is the only levy which still falls under the central government's domain. In December 2017, the government had raised basic customs duty levied on...

Industry also seeks higher tax benefits for home buyers, especially as the unit prices in metro cities are higher Budget 2018-19 In the year 2017, we saw the rollout of the goods and services tax (GST) and the implementation of the Real Estate (Regulation and Development) Act (RERA). The twin policy moves, in addition to the lingering effects of the demonetisation exercise of late 2016, had an adverse impact in the short run on real estate sale and the overall economy. However, these moves also brought about consolidation and transparency in the sector. Now, in the Budget 2018, the last full Budget of the present government before the general elections of 2019, we hope Finance Minister Arun Jaitley will – after granting infrastructure status to affordable housing – also spread this benefit to the entire real estate sector. Also, considering the cost of homes in cities, the rebate on home loans must be increased and tax exemptions be given. On the supply side, the governme...

The changes will be effective from January 25; 15 states to start intra-state e-way bill from February 1        Union budget 2018 Two weeks ahead of Budget 2018, the Goods and Services Tax (GST) Council on Thursday cut rates on 83 employment-oriented goods and services, in a bid to encourage greater compliance as revenues have dipped since the landmark reform was announced in July. The panel, headed by Finance Minister Arun Jaitley and comprising representatives of all states, at its 25th meeting decided to reduce tax rate on 29 items and 54 categories of services with effect from January 25. Businesses have raised concerns about high rates of taxation and cumbersome processes in GST, billed as India's biggest tax reform in 70 years. The goods on which GST will be lowered include biofuel-run buses, used motor vehicles and diamonds and precious stones. Here's the complete list: List of goods on which GST rate recommended for reduction from 28% to 1...