On July 5, 2019, Indian Union Budget was presented in the Parliament by the Finance Minister Nirmala Sitharaman and it includes several direct and indirect measures. The important GST measures include:
- Proposal to reduce GST on electric vehicles from 12% to 5%.
- Fully automated GST Refund module shall be implemented; multiple tax ledgers to be replaced by one; invoice details to be captured in a central system.
Source: indiabudget.gov.in
Latest Posts in "India"
- CESTAT: Software Preloaded in Imported Hardware Includible in Customs Value, No Penalty on Wipro
- GST Compliance for Foreign Currency Invoicing: Key Requirements for Indian Exporters
- US Formally Lifts Russia-Linked 25% Tariff on Indian Imports, Confirms 18% Reciprocal Rate
- Fake GST Invoice Scams Persist Despite Crackdown: Shell Firms, Circular Trading Fuel Tax Evasion
- U.S.-India Trade Deal: A New Era of Economic Cooperation
