gst

The last date for the income tax return for the financial year 18-19 is extended to 30th June 2020. For...

Briefing reporters about the decisions here, Finance Minister Nirmala Sitharaman said there will be one rationalised rate of GST at 12 per cent for both hand-made and machine-made matchsticks.

According to the Union Finance Ministry, GST revenue collection for January 2020 stands second-highest monthly collection since the implementation of the new tax regime. The total number of GSTR 3B Returns filed for the month of December up to January 2020 is 83 lakh (provisional).

In the Union Budget 2019-20 presented today, FM Nirmala Sitharaman laid out a 16-point action to set the agriculture sector up for better times. An allocation of Rs 2.83 lakh crore will be made for the agriculture sector, the FM announced. 

"The digital revolution, which has placed India in a unique leadership position, globally will see the next wave. We shall aim to achieve seamless delivery of services through digital governance," Sitharaman said.

"With renewed vigour, under PM's leadership, we commit ourselves to present the people of India with all humility and dedication. People have reposed faith in our economic policy," she added.

The government is widely expected to raise spending on infrastructure and cut some personal tax to spur consumer demand and investment.

In July last year, Sitharaman had said that the Modi government is not a "suitcase-carrying government", in an apparent jibe at the past dispensations.