Value-added tax Current Affairs, GK & News

Second Phase of Urban Environment Improvement Programme launched in Punjab

Amarinder Singh, Chief Minister of Punjab has virtually launched the phase-II of Rs. 11,000 crore Urban Environment Improvement Programme (UIEP). He has launched the programme from Bachat Bhawan, Ludhiana in Punjab. The project will focus on the development of the state’s urban infrastructure and well- organized service delivery systems to the urban population. What were ..

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“Special Corona Fee” imposed on Liquor by Delhi Government

On May 4, 2020, the third phase of lock down began in India. Under the third phase, the liquor shops were opened in selected regions with certain restrictions. Highlights With the liquor shops opening after a long gap, there were long queues at store all over the country. The Delhi Government acted swiftly on the ..

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Government Proposes Major changes in Corporate Tax Rates

The Union Minister of Finance Nirmala Sitharaman has announced big cuts in the corporate tax rate, giving a ₹1.45 lakh crore stimulus aimed at reviving private investment and lifting growth from a six-year low. The government has also rolled back the enhanced surcharge on capitals gains resulting from the sale of equity share in a ..

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Key points of the Australian Budget 2019

The Australian Budget for the fiscal year 2019 ”2020 sets out economic and fiscal outlook of Australia. It includes revenue estimates, expenditure for the fiscal year and also for the consecutive 3 financial years Wages and Income tax cuts                 The personal income tax was the main focus of the previous year budget. It is ..

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Saudi Arabia, UAE introduce VAT for first time

Saudi Arabia and United Arab Emirates (UAE) became first countries of Gulf Cooperation Council (GCC) to introduce Value Added Tax (VAT) for the first time to increase their revenue away from oil reserves. The other members of 6 member GCC– Bahrain, Kuwait, Oman and Qatar — have also committed to introduce VAT, though some have ..

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