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TMI BlogIndirect Tax Proposals - Budget 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... Indirect Tax Proposals - Budget 2019 X X X X Extracts X X X X X X X X Extracts X X X X ..... inputs for manufacture and exports. 2.Single point of approval for manufacture and other operations in relation to manufacturing process or other operations in the warehouse in relation to goods as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... required under section 65 of the Customs Act, 1962. 3. Full and comprehensive digitalization of export and import transactions. 4. Promoting Radio Frequency Identification (RFID) technology to impro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve export logistics. 2. Goods and Services Tax 1. Exemption limit for GST Registration for small businesses proposed to be doubled from ₹ 20 lakh to ₹ 40 lakh. 2. Taxable persons having ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... turnover of 1.5 crore may opt for Composition Scheme, wherein they pay GST at 1% flat rate and file one return annually. 3. Small service providers having an Annual Turnover in the preceding Financi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al Year up to ₹ 50 lakhs can now opt for composition scheme and pay GST at 6% (3% Central GST +3% State GST) instead of 18%. X X X X Extracts X X X X X X X X Extracts X X X X ..... fessionals ..... X X X X Extracts X X X X X X X X Extracts X X X X
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