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GST Council meet: Extension of compensation cess to be in focus

The much-awaited 47th Goods and Services Tax (GST) Council meeting, with its focus on GST rate restructuring and extension of GST compensation cess, will now possibly be held in the first week of May, once the Union Finance Minister Nirmala ...

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Haryana to discontinue COVID-19 cess on liquor


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People stand in queues to buy liquor outside a wine shop near Delhi- Gurugram border, in Gurugram. File.   | Photo Credit:
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The Haryana Cabinet on Thursday approved the State’s excise policy for the year 2021-22 and decided to discontinue the ‘Covid cess’ on sale of liquor, which was imposed in 2020-21 for generating additional revenue in view of the pandemic.
An official statement said the overall excise collection in the financial year 2020-21 was ₹6,792 crore, against the collection of ₹6,361 crore in financial year 2019-20.
The statement said, “Despite complete lockdown till first week of May, 2020 and overall economic slowdown for major part of the year 2020-21, excise revenue during the financial year 2020-21 has witnessed growth of 6.69%. Since, the period of allotment of retail vends for 2020-21 will come to an end on May 19, 2021, the growth in excise revenue for policy year 2020-21 is likely to reach 15%.”

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On 1st day of Budget session, govt hailed for 'focusing on tribal welfare' | Ranchi News

On 1st day of Budget session, govt hailed for 'focusing on tribal welfare' | Ranchi News
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

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Disinvestment, attracting new capital and transparency key highlights of Budget 2021: ETILC Members


Disinvestment, attracting new capital and transparency key highlights of Budget 2021: ETILC Members
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Disinvestment, attracting new capital and transparency key highlights of Budget 2021: ETILC MembersBy Nikita Rana, ET CONTRIBUTORS
Last Updated: Feb 24, 2021, 03:07 PM IST
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Synopsis
ETILC hosted an exclusive post-budget analysis session with over 50 CEOs involved engaging with senior members from KPMG India.
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Budget 2021 is a bid by the government to revive the economy after the year that we’ve had- where everything from consumption, investments and exports has fallen. In the first quarter of FY20-21 the economy witnessed a staggering 24% fall and post that there has been a continued reversal of that trend. Now almost a year after Covid-19 first hit our shores, the government is attempting to rebuild the economy through infrastructure spending, investment in distressed sectors especially MSMEs and focusing on a growth formula through upskilling and innovation.

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Budget caters to interest of corporates, ignores common man: JIH President


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Income Tax Slab 2021-22 LIVE Updates: Focus on Putting More Money in Taxpayers' Hands, Govt Promises to Meet Expectations


»No Change in Tax Structure a Sign of Swift Fiscal Consolidation: Budget 2021 gets a Thumbs Up From Industry Experts
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No Change in Tax Structure a Sign of Swift Fiscal Consolidation: Budget 2021 gets a Thumbs Up From Industry Experts
Union Budget 2021-22 was presented today by finance minister Nirmala Sitharaman.
Surprising everyone, especially the markets which closed with the biggest Budget-day gains of 5 per cent, the Union Budget 2021 left all taxes unchanged barring for some cess to fund the farm sector or increase any direct taxes.
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Surprising everyone, especially the markets which closed with the biggest Budget-day gains of 5 per cent, the Union Budget 2021 left all taxes unchanged barring for some cess to fund the farm sector or increase any direct taxes. All it did was tweak the customs and excise duties on certain products to rationalise them.

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FM Nirmala Sitharaman's 'Economic Vaccine' coming on Monday; will Budget 2021-22 go beyond 'bahi-khata'? | India Business News


NEW DELHI: Finance minister Nirmala Sitharaman today will deliver her promised budget like no other that is expected to provide relief to the pandemic-hit common man as well as focus more on driving the economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours.
As India emerges from the Covid-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.

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Why FM should not bring in any new tax in this budget

Any additional burden on existing taxpayers or any new taxes like wealth tax/estate duty, which were discontinued earlier for reasons of high administrative costs and low revenue yield, may not be in sync. The mantra for the FM in Budget 2021 should be ‘No New Tax.

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Budget expectations I Budget 2021-22: 5 things common man expects from finance minister

Discretionary spending by common man was severely hit in 2020 owing to the pandemic and the subsequent lockdown. It remains to be seen what steps will FM take to address the same in forthcoming Budget 2021-22

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