Government Announces Budget of Over Rs 1 Lakh Crore for Jammu & Kashmir for F.Y. 2021-22. Major Focus on BDC, Development and Infrastructure

The budget document reveals that its focus is on good governance, socio-economic development of the people, infrastructure building and generation of employment. 37 % of the earmarked budget is destined to be spent on development and infrastructure projects.

PM Addresses Webinar on Effective Implementation of Budget Provisions Regarding Education Sector

Addressing the webinar, the Prime Minister pointed out that to build a self-reliant India, confidence of the youth of the country is equally important. Confidence comes only when the youth has complete faith in their education and knowledge. Confidence comes only when they realize that their studies are giving them the opportunity to do their work and also the necessary skills. He said that the new National Education Policy has been made with this thinking. He stressed the need to implement all the provisions of the National Education Policy from pre-nursery to PhD quickly and said that the Budget will be of immense help in this regard.

Analysis of Proposed Amendments in Union Budget 2021-22

The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman presented the Union Budget 2021-22 in Parliament today, which is the first budget of this new decade and also a digital one in the backdrop of unprecedented COVID-19 crisis. Laying a vision for Aatma Nirbhar Bharat, she said this is an expression of 130 crore Indians who have full confidence in their capabilities and skills. She said that Budget proposals will further strengthen the Sankalp of Nation First, Doubling Farmer’s Income, Strong Infrastructure, Healthy India, Good Governance, Opportunities for youth, Education for All, Women Empowerment, and Inclusive Development among others.

Budget 2021: Alarming Situation for Taxpayers Registered under GST

With the insertion of Clause(aa) in Section 16(2) of the CGST Act by the Finance Act, 2021, now it is clear that Input Tax Credit (ITC) claimed on the basis of invoices which are not uploaded by the supplier in his GSTR-1, is required to be reversed and tax/interest/penalty has to be paid under section 73(5) of the CGST Act.

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Auto-population of e-invoice details into GSTR-1 trial ITR 1 and 4 Utilities for has been available for E-filing for the Assessment year 2021-2022 Accounting Software with Audit Trail Just In:- CBDT Issue clarification Knowledge is Power! Latest Post