Modi 3.0 cabinet: Prime Minister Narendra Modi unveiled his new cabinet on Monday, following his historic third consecutive term victory in the recent Lok Sabha elections. The council of ministers reflects a blend of continuity and change, with several key figures retaining their portfolios and fresh faces being brought in for other crucial positions.
Union Finance Minister Nirmala Sitharaman presented the Modi 2.0 government’s last Budget before the general elections on Thursday. The interim budget has a mix of measures for the economy and significant segments for women that are important from the point of voters’ pull.
Prime Minister Narendra Modi Union Budget 2024-25: Prime Minister Narendra Modi Thursday congratulated Finance Minister Nirmala Sitharaman on the successful presentation of the interim budget. “It may be an interim budget but it is an inclusive and progressive one and a reflection of Vikshit Bharat,” Modi said in a speech.
New Parliament Building-Central Vista: Prime Minister Narendra Modi will lay the foundation stone for the country’s new Parliament building on Thursday, said Lok Sabha speaker Om Birla, adding that in the new building each member will have at least 40 square meter of working space.
The expert group has also recommended that large corporate or industrial houses may be allowed as promoters of banks only after amendments to the Banking Regulation Act and strengthening of the supervisory mechanism for large business houses, including a consolidated supervision system.
The gross GST revenue collected in the month of August, 2020 is Rs 86,449 crore of which CGST is Rs 15,906 crore, SGST is Rs 21,064 crore, IGST is Rs 42,264 crore,” said the finance ministry.
How to file Nil GSTR-1 Returns through SMS: In a big relief to GST taxpayers, the Central Board of Indirect Taxes and Customs (CBIC) has allowed the filing of NIL GSTR-1 return just by sending a SMS. It would substantially improve ease of GST compliance, according to the tax experts.
PAN-Aadhaar linking deadline: Modi governmet has extended the deadline to link PAN with Aadhaar by another three months.However, this may be one last opportunity.
Tax officials recovered Rs 2 crore in unaccounted cash and seized documents. Unaccounted cash was stashed in unlikely places like water tanks.
Angel Tax on Startups: Modi government has extended several reliefs to start-ups facing scrutiny from income tax department, it will be with retrospective effect.
Cracking down on tax evasion: In the two raids conducted over the last week, income tax officials have unearthed sham transactions worth Rs 700 crore.
Rs 10,000 additional liquidity facility by National Housing Bank to Housing Finance Companies in addition to two existing schemes of NHB.
GST Fake Invoice: GST officials in Delhi have busted a racket of issuing fake GST invoices and arrested two persons & recovered fake bills and stamps.
Income Tax officers have raided more than 40 places linked to the builder in Mumbai and Pune and unearthed bogus transactions worth Rs 700 crore.
GST Collections in July 2019 have grown by 5.8% over the same month last year. Bulk of the money comes from IGST and duty on imports.
