Custom Duty Current Affairs, GK & News
Budget 2021: No change in Income Tax Slabs
The Union Finance Minister, Nirmala Sitharaman, have proposed no change in the Income Tax Slabs in the Union Budget 2021. The income tax structure has been kept as earlier. However, some relief have been announced for the senior citizens. It was announced that the senior citizens above the age of 75 years will exempted from ..
Month: Current Affairs - February, 2021
Category: Economy & Banking Current Affairs
Topics: Custom Duty • Income Tax • Income tax return • nirmala sitaraman • Union Budget 2021
Exports: GoI launches guidelines for Certificate of Origin
The Ministry of Commerce recently launched an online platform to issue Certificate of Origin to the exporters and other guidelines. The move is being taken to facilitate shipments during lock down. Highlights Currently, the online platform is used obtain certificate of exports under PTA signed with Chile, SAFTA signed with Nepal and SAPTA signed with ..
Month: Current Affairs - April, 2020
Category: India Nation & States Current Affairs
Topics: Custom Duty • exports • Free trade agreement • Guidelines • lock down • Preferential Trade Status • SAARC
February 24: Central Excise Day
Every year, on February 24, the Central Excise Day is being celebrated by Central Board of Excise and Customs all over India. The day is being celebrated to honour the service of Central Board of Excise and Custom (CBEC) to the country. Highlights The day is also celebrated to honour the officers associated with CBEC ..
Month: Current Affairs - February, 2020
Category: Important Days & Events Current Affairs
Topics: Basic Custom Duty • CBEC • Corruption • Custom Duty • Customs Act 1962
Govt scraps import duty on open cell TV panel used to make TV sets
In a bid to boost domestic manufacturing, the Central government has removed 5% custom duty that was imposed on import of open cell TV panel. Open cell TV panel are used in manufacturing of television sets such as LED TVs. Key Highlights As per the notification issued by Union Ministry of Finance in this regard ..
Month: Current Affairs - September, 2019
Category: Economy & Banking Current Affairs
Topics: Consumer Electronics and Appliances Manufacturers Association • Custom Duty • import duty • LCD TV • LED TV • manufacturing • open cell TV panel • Union Ministry of Finance
Key Highlights of Union Budget 2019-20 (Part 2)
TAXES Direct Taxes Performance: India’s Ease of Doing Business (EDB) ranking under ‘Paying Taxes’ category jumped from 172 in 2017 to 121 in 2019. In past 5 years, Direct tax revenue increased by over 78% to Rs. 11.37 lakh crore Tax Slabs: For companies with annual turnover of up to Rs.400 crore, Tax rate reduced ..
Month: Current Affairs - July, 2019
Category: Economy & Banking Current Affairs
Topics: Category-II Alternative Investment Funds • Custom Duty • direct tax • Indirect Tax • International Financial Services Centre • Legacy Dispute Resolution Scheme • Surcharges and Cess • Tax Exemptions • Tax Simplification • Union Budget 2019-20 • Union Ministry of Finance