Tax payer Charter will be part of our statute. Tax harassment cannot be tolerated.

Criminal Libility for Civil liability – The same in compnay law will be removed. Other laws will also be looked into it.

National Recruitment Agency for recruitment for non-gazetted post for conducting exams and recruitment. The same will be setup in all districts.

India will host G-20 residency in 2022 during 75th year of India’s independence. During this event, India would be drive global economic advantage and an allocation of Rs 100 crore has been done for this purpose.

Financial Sector

Robus system to monitor all scheduled banks and all public depositor money is safe

Insurance cover increased to Rs.5 Lakhs from Rs.1 lakhs. Once implemented the deposit upto Rs.5 lakhs is safe

NBFC Eligibility for SARFAESI Act reduced to Rs 100 crore from Rs 500 crore AUM. 

MSME

ubordinate debt for entrepreneurs of MSMEs will be provided and will be treated as quasi-equity

Government has asked RBI to consider extending window of debt structuring by one year to March 2021

Financial Markets

A debt ETF consisting of government securities will be launched.

Disinvestment

LIC to be partially disinvested by way of IPO

Caring Economy

1. Rs.35600 crores for nutrition related programmes
2. Rs.28600 crores for programmes specific to women
3. Rs.85000 for Shedule Caste/OBC
4. Rs.53700 cores for Shedule Tribes
5. Rs.9500 cores for Senior Citizens
6. More than 6 lakh anganwadi workers are equipped to upload status of more than 10 crore households

Culture & Tourism

Five archaeological sites will be set up with museums on site in Rakhi Gadi in Haryana, Hastinapur in UP, Dholavira in Gujarat, Shivsagar in Assam and Adichanallur in Tamil Nadu.

A tribal museum will be set up in Ranchi, Jharkhand. Maritime site will be set up in Lothal.

Rs.3150 crores for Ministry of Culture

A total of Rs 2,500 crore will be allocated for tourism promotion in FY21. 

Climate Change

Rs.4400 crores allocated

Defense

Econimic Development

1. Enterpreneurship Development – Investment clearance Cell to be constituted- End of End solutions
2. Electronic Manufacturing Industry – Encourage manufacture of Mobile Phones, Medical Devices, Electronic Goods etc a scheme will be implemented soon
3. All Industrial dept to introduce Quality Standards
4. Refund of All duties will be implemented from current year for exports.
5. 27300 crotes for romotion of of Industry & Commerce
6. FM says National Infrastructure Pipeline involves 6,500 projects.
7. A total of 9,000 km of economic corridor will be set up
8. Chennai-Bengaluru expressway will also be started, says FM.
9. A total of 12 lots of highway bundles will be monetised by 2024
10. A new scheme of Electricity smart meters will be launched.  Pre-paid scheme will be introduced to buy electricity.
11. Rs.22,000 crores to power and renewable energy

NEw Economy

1. Policy to set-up data centre parks by private sector
2. All public instututions to be provided digital connectivity
3. 100000 grama panchayath to be connected through fibre optics
   4.Rs.6000/- core allocated
   5.Rs.8000/- crores for quantum technology for 5 years

Education & Skill – Third point in Aspiration India

Education & skill..main points

1. New Educational policy will be announced soon
2. ECB and FDI for Education
3. Urban Local bodies to provide internship for engineering students for one year
4. Degree level online educational programme
5. Study in India Programme – Exams for students from Africa
6. Shortage of Medical Doctors – Medical College to be attached to District Hospitals
7. Speical Bridge course for skill development
8. Allocation of Rs.99300crores for education and Rs.3000 for skill development

Health Carre

Wellness, Sanitation, safe water etc

Ayushman Bharath – More hospitals to be empanelled. 112 of aspirational district which didn’t have empanelled hospital will be encouraged

TB harega Desh Jitenga Scheme introduced

Rs.12300 crores for Swatch Bahrath

Aspirational India

1.Agriculture, Skills, Education

Agriculture..main points

Encourage those State Govt. who adopt three laws Agricultural Laws

Comprehensive Steps for 100 water stressed Districts

20 Lakhs farmers for settingup solar pumps.

Viability Funding for developing Warehouses

Encourage Barren land holders to generate solar power by setting up solar power generating units

Village Storage Scheme is proposed to supply seeds required by farmers by women Dhanya Lakshmi Schemen. Mudra Loan will be extended

Horticulture Sector exceeds the production of food grains. One product one district

Agricultural Credit availability will be Rs.15 Lakhs crores

Fund Allocation:

Agriculture & allied activities, Irrigarion & Rural Development 2.83 Lakhs Crore

Finance Minister Smt.Nirmala Sitaraman started presenting the Budget 2020-21..

The Ministry of Finance had issued a press release stating that the GSTR-3B returns can be filed in a staggered manner(different dates for various categories of assessees). The effective date will be announced later at the time of issuing notifications. It is also stated in the press release that various technological measures will be taken in consultation with Infosys.The due dates for filing GSTR-3B and payment of taxes without late fees and interest applicable for assessees in Tamilnadu and Kerala is given below:

Sales of more than Rs.5 crores in the preceding financial year: 20th of Subsequent month

For all other assessees: 22nd of Subsequent month

The entire text of press release is given below for reference:

Ministry of Finance

Now the GST Taxpayers can file their GSTR-3B Returns in a Staggered Manner

Posted On: 22 JAN 2020 6:29PM by PIB Delhi

Considering the difficulties faced by trade and industry in filing of returns, the government has decided to introduce several measures to ease the process. The Finance Ministry today said that now GST taxpayers can file their GSTR-3B returns in a staggered manner.

Presently the last date of filing GSTR-3B returns for every taxpayer is 20^th of every month. From now on, the last date for filing of GSTR-3B for the taxpayers having annual turnover of Rs 5 crore and above in the previous financial year would be 20^th of the month. Thus, around 8 lakh regular taxpayers would have the last date of GSTR-3B filing as 20^th of every month without late fees.

The taxpayers having annual turnover below Rs 5 crore in previous financial year will be divided further in two categories. The tax filers from 15 States/ UTs, i.e., Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh will now be having the last date of filing GSTR-3B returns as 22^nd of the month without late fees. This category would have around 49 lakh GSTR-3B filers who would now have 22^nd of every month as their last date for filing GSTR-3B returns.

For the remaining 46 lakh taxpayers from the 22 States/UTs of Jammu and Kashmir, Laddakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha having annual turnover below Rs 5 crore in previous financial year will now be having last date of filing the GSTR-3B as 24^th  of the month without late fees.

The Finance Ministry said that the necessary notification in this regard would be issued later by the competent authority.

In a statement issues, the Ministry further said that it has also taken a note of difficulties and concerns expressed by the taxpayers regarding filing of GSTR-3B and other returns. The matter has been discussed by the GSTN with Infosys, the Managed Service Provider, which has come out with above solution to de-stress the process as a temporary but immediate measure. For further improving the performance of GSTN filing portal on permanent basis, several technological measures are being worked out with Infosys and will be in place by April 2020.

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