Day: February 1, 2017

Feb 01

Indirect Taxes Proposals Involving Change In Duty/Tax Rates: Customs & Excise Duty

PROPOSALS INVOLVING CHANGE IN DUTY / TAX RATES: CUSTOMS:   Commodity Rate of Duty   From To I. Incentivizing domestic value addition, ‘Make in India’ A. Reduction in Customs duty on inputs and raw materials to reduce costs Mineral fuels and Mineral oils 1. Liquefied Natural Gas BCD – 5% BCD – 2.5%     Chemicals & Petrochemicals 2. Medium Quality Terephthalic Acid (MTA) & Qualified Terephthalic Acid (QTA) BCD – 7.5% BCD – 5%     Metals 3. Nickel Read Full Details…

Feb 01

Highlights of Union Budget 2017-18

Budget Highlights (Key Features) Introduction In the last two and half years administration has moved from discretionary, favouritism based to system and transparency based Inflation brought under control. CPI-based inflation declined from 6% in July 2016 to 3.4% in December, 2016 Economy has moved on a high growth path. India’s Current Account Deficit declined from about 1% of GDP last year to 0.3% of GDP in the first half of2016-17. FDI grew 36% in H1 2016-17 over H1 2015-16, despite Read Full Details…