Category: Finance

Implement anti-profiteering clause in GST to avoid exploitation: Finance Minister

Kerala Biz News

With the implementation of the Goods and Services Tax (GST), there are widespread complaints that consumers are being fleeced by imposing tax above the printed rate. It has been brought to the notice of the government such illegal bills are being issued to the consumers. Some people are using the change in tax structure as an opportunity to make huge profits. Kerala has argued before the GST Council such a situation would arise. The anti-profiteering clause has been included in the GST Act after constant pressure from Kerala.

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Impact of Budget 2017 Tax proposals for Individual & Corporate Tax payers

Kerala Biz News

Budget 2017 – Tax proposals explained – the impact of the Tax proposals for the Individual and Corporate Tax payers: 1. Tax Rate slashed for small tax payers: Personal Income Tax slab reduced for individual ttax payers having taxable income between 2.5 lakhs to 5 lakhs to 5% instead of present 10%. This will provide a flat rebate of INR 12,500 to the entire 1.92 crore individual tax payers. Adding up the education cess and higher education cess to this savings, the gross savings for most of the tax payers…

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Highlights of Union Budget 2017 – 2018

Kerala Biz News

These are the major highlights of the Union Budget presented by Finance Minister, Shri Arun Jaitley in Parliament today, for the financial year 2017 – 2018. General Proposals: 1. FM. Mr. Aurn Jaitley raises to present the Union Budget at 11.08 a.m. after the condolence message over the death of Parliamentarian Mr. E Ahamed yesterday. 2. No sitting of the Parliament tomorrow as a mark of respect to the departed Soul.

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