تبادل لینک هوشمند
 |
With these words, Madam Speaker, I commend the Budget to the House. To smoothen dispute resolution processes and to reduce litigation, certain amendments are being made, to provide for pre-notice consultation, definite timelines for adjudication and deemed closure of cases if those timelines are not adhered to. With the experience gained so far, we are now ready to roll out the E-assessment across the country, which will transform the age-old assessment procedure of the income tax department and the manner in which they interact with taxpayers and other stakeholders.159. To help the cashew processing industry, I propose to reduce customs duty on raw cashew from 5% to 2.
To further incentivise the domestic value addition and Make in India in some such sectors, I propose to increase 31 customs duty on certain items. This will enable us to collect an estimated additional amount of `11,000 crores. Swami Vivekanand had also envisioned decades ago in his Memoirs of European Travel, You merge yourselves in the void and disappear, and let new India arise in your place. I propose to abolish the Education Cess and Easy tear films Manufacturers Secondary and Higher Education Cess on imported goods, and in its place impose a Social Welfare Surcharge, at the rate of 10% of the aggregate duties of Customs, on imported goods, to provide for social welfare schemes of the Government. E-assessment. Let her spring from the grocer's shop, from beside the oven of the fritter seller. Excise duties to a large extent and service tax have been subsumed in GST, along with corresponding duties on imports.5%.162.164.
In this budget, I am making a calibrated departure from the underlying policy in the last two decades, wherein the trend largely was to reduce the customs duty.163. Goods which were hitherto exempt from Education Cesses on imported goods will, however, be exempt from this Surcharge. I also propose to make certain changes to the Customs Act, 1962, to further improve ease of doing business in cross border trade, and to align certain provisions with the commitments under the Trade Facilitation Agreement. The existing three per cent education cess will be replaced by a four per cent ¡§Health and Education Cess¡¨ to be levied on the tax payable. Indirect Tax. Let her emanate from the factory, from marts, and from markets. With the roll out of GST, I propose to change the name of Central Board of Excise and Customs [CBEC] to Central Board of Indirect Taxes and Customs (CBIC).165. In addition, certain specified goods, mentioned in the Annexure 6 to my speech will attract the proposed Surcharge at the rate of 3% of the aggregate duties of customs only. Let her emerge from groves and forests, from hills and mountains. I am sure the New India which we aspire to create now will emerge. On the Indirect Taxes side, this is the first budget after the roll out of the Goods and Service Tax. Accordingly, I propose to amend the Income-tax Act to notify a new scheme for assessment where the assessment will be done in electronic mode which will almost eliminate person to person contact leading to greater efficiency and transparency. Hence, my budget proposals are mainly on the customs side.
The necessary changes in law for this are proposed in the Finance Bill.160. To fund this, I propose to increase the cess by one per cent. Madam, while making the proposals in this year¡¦s Budget, we have been guided by our mission to especially strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors of Indian economy. There is substantial potential for domestic value addition in certain sectors, like food processing, electronics, auto components, footwear and furniture. . We had introduced e-assessment in 2016 on a pilot basis and in 2017, extended it to 102 cities with the objective of reducing the interface between the department and the taxpayers.In order to take care of the needs of education and health of BPL and rural families, I have announced programs in Part A of my speech.158. Let her arise out of the peasants cottage, grasping the plough; out of the huts of the fisherman. My other tax proposals on direct tax are listed in Annexure 5 of my speech. This measure will promote creation of more jobs in the country. Details of changes made in rates of customs duty as well as certain changes made in the excise duty structure are given in Annexure 6 to my speech. I propose to increase customs duty on mobile phones from 15% to 20%, on some of their parts and accessories to 15% and on certain parts of TVs to 15%.161
نظرات شما عزیزان:
خبرنامه وب سایت: