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 ..

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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 ..

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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 ..

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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 ..

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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 ..

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