For 2021, they have revised estimate to 8.6% (from 8.1% earlier)
This shows that a positive correction is happening as regards our economic prospects.
Apr 17, 2020 • 14 tweets • 6 min read
“Amount equivalent to 3.2% of GDP was injected into the system by @RBI, during Feb 6 - Mar 27; since then surplus liquidity in banking system has considerably increased due to sustained government spending” @RBI
1/n
“The foreign exchange reserve level continues to be robust, amounting to $ 476.5 billion, equivalent to 11.8 months of imports” @RBI
Mar 24, 2020 • 8 tweets • 1 min read
Major Announcements by Finance Minister
For FY 2018-19, last date for IT return extended till June 30
Sabka Vishwas scheme for indirect tax extended till June 30
No interest would be levied till then
- GST: Last date for filing March, April, May 2020 returns and composition returns extended till June 30
- For companies with less than Rs. 5 crore turnover, no interest, late fee or penalty will be charged
- For the bigger companies, interest would be 9%
Sep 20, 2019 • 7 tweets • 1 min read
IMPORTANT ANNOUNCEMENTS by FM
A domestic company can pay income tax at 22% if they dont seek any exemption or incentives.
Effective Tax Rate 25.17% inclusive of all surcharges and cess for such domestic companies
Such companies also not required to pay Minimum Alternative Tax.
To provide relief to companies which continue to avail exemptions and incentives, rate of Minimum Alternate Tax has been reduced from existing 18.5% to 15%.