Duty on chemicals used for petrol refining reduced
Duty exemption for import of steel scrap extended by one more year
Electronics - Duty concessions offered to mobile camera and transformers + Duty reduced to 5% for gems & Jewellery
Project Imports - Customs concessional regime phased out - 7.5% tax imposed
350 Customs exemption notifications to be expired
GST collections in Jan month soar to Rs 1.41 lakh crore
SEZ reform to be implemented by Sept 2022
No set off of any loss to be allowed against undisclosed income detected during Search
Health & Education Cess not allowable as business expenditure
Surcharge across board including long-term capital gains reduced
Virtual Digital Assets - Capital gains from transfer of such assets to be taxed at 30%; Loss not to be allowed to be set off
Concessional Corporate tax regime - Date for commencement of manufacturing extended by one more year
Budget proposes to reduce AMT to 15% for Cooperatives + surcharge reduced to 7%
Tax incentives to be available for Start-ups registered till March 2023
FM allows leeway to taxpayers to file updated or revised return within two years
Total expenditure in next fiscal to be Rs 39.5 lakh crore
Fiscal deficit pegged at 6.4% for next year
RBI to introduce Digital Rupee in next fiscal
Rs 1 lakh crore allocated to States to build capital assets in next fiscal
Foreign Universities to be allowed to be set up in Gift City
Sovereign Green Bonds to be floated to fund green infra
Capital expenditure stepped up to Rs 7.5 lakh crore in 2022-23
Solar capacity building - Rs 19500 Cr PLI Incentive to be given
5-7% biomass pellets to be used by thermal power plants
Capital expenditure stepped up to Rs 7.5 lakh crore in 2022-23
Sovereign Green Bonds to be floated to fund green infra
Foreign Universities to be allowed to be set up in Gift City
RBI to introduce Digital Rupee in next fiscal
Rs 1 lakh crore allocated to States to build capital assets in next fiscal
Total expenditure in next fiscal to be Rs 39.5 lakh crore
Fiscal deficit pegged at 6.4% for next year
FM allows leeway to taxpayers to file updated or revised return within two years
Budget proposes to reduce AMT to 15% for Cooperatives + surcharge reduced to 7%
Tax incentives to be available for Start-ups registered till March 2023
Concessional Corporate tax regime - Date for commencement of manufacturing extended by one more year
Virtual Digital Assets - Capital gains from transfer of such assets to be taxed at 30%; Loss not to be allowed to be set off
Health & Education Cess not allowable as business expenditure
No set off of any loss to be allowed against undisclosed income detected during Search
Surety bond to substitute Bank Guarantee in govt procurement contracts
Spectrum for 5G services to be auctioned in 2022-23
Govt to introduce battery-swapping policy for EVs
Voluntary winding-up of companies - Period to be reduced from 2 yers to 6 months
e-Passport with embedded chips to be rolled out
Use of Kisan Drones to be promoted
ECLGS to be extended for MSMEs till March 2023
Supplementary education for class 1 to 12 - TV channels to be augmented from 12 to 200
National Mental Program to be rolled out
Transfer of funds from postal and bank accounts to be operationalised
75 digital banking units to be set up in 75 districts Budget focuses on PM Gatishakti, Climate Action, financing of investment & Inclusiveness
National Highways network to be expanded by 25000 km in 2022-23
400 new generation Vane Bharat trains with battery energy to be introduced
8 contracts for 60 km ropeway program to be awarded in urban areas and hilly states
EU raises Lithuania's trade issues against China with WTO |
