Monday, February 28,
Finance Minister Pranab Mukherjeepresents the federal budget in Lok Sabha today. Preparation of GST rollout is in the final stages. Goods and Services Tax Bill is to be introduced in Parliament this year..* The government originally planned to roll out GST from April 1 last year but a consensus could not be reached on the introduction of the Bill.
GST would include most of the central and state taxes like excise and sales tax, making rules easier for the industry and other tax payers.
Some other highlights include- rising of housing loan limit from Rs 20 lakh to Rs 25 lakh for priority sector lending.
Direct Tax Code Bill likely to be passed by Parliament next financial year after getting Standing Committee report.
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