Income tax exemptions for small and medium enterprises MSME
Monday, October 24, 2016     Category : Indian Budget 2016-17

Budget 2016-17 changes in customs import duty tariff,excise duty and service tax

Indian Union Budget 2016-2017, changes in import customs tax tariff, chapter wise

Indian Budget 2016-17, Excise duty tariff changes, chapter wise

Changes in Service Tax as per Budget 2016-17


Income tax exemptions for small and medium enterprises MSME


Presumptive taxation scheme under section 44AD of the Income Tax Act is available for small and medium enterprises i.e non corporate businesses with turnover or gross receipts not exceeding one crore rupees. At present about 33 lakh small business people avail of this benefit, which frees them from the burden of maintaining detailed books of account and getting audit done. I propose to increase the turnover limit under this scheme to Rupees two crores which will bring big relief to a large number of assesses in the MSME category.





Indian Union Budget changes in excise duty for worn clothing and worn textile articles, rags as per HS code 63


Changes of excise duty for footwear and gaiters as per India Budget 2016-17


India Budget 2016-17, changes in excise duty for headgear and parts as per HS code 65


Latest budget changes in excise charges for umbrellas,walking sticks, riding-crops and parts, sun umbrellas as per HS code 66


Indian Union Budget 2016-17, changes in excise duty for artificial flowers, articles of human hair, feathers etc


Changes in excise duty as per Indian Budget 2016-17 for articles of mica, stone, plaster, cement, asbestos as per HS code 68


Budget changes in excise duty for ceramic products as per HS code 69


Indian Union Budget changes in excise duty for glass and glassware as per HS code70


Budget changes in excise duty for imitation jewelry, pearl, coins, precious metals as per HS code 71


Changes in excise duty as per Indian Budget 2016-17 for iron and steel


Clarification to Department of Scientific and Industrial Research (DSIR) 


Customs duty exemption clarification for aircraft engines and parts 


OLP and PTCR for manufacture of refrigerator compressor exemption clarification 


clarification on exemption of Liquefied Natural Gas (LNG) for SEZ 


Exemption of Excise duty of BCD and CVD on power project 


No refund of SAD under notification No.102/2007-Customs dated 14.09.2007 


Tax changes for specified goods imported for petroleum exploration under Indian Budget 2016-17 


Direct imports by Government will attract customs duties 


Exemption for disposable sterilized dialyzer and micro barrier of artificial kidney 


Excise duty CENVAT is being levied on articles of jewellery under Indian Budget 2016-17 


Excise duty CENVAT for readymade garments and made up articles of textiles 


Tax changes in sectors of Agriculture, rural economy and environment under Indian Budget 2016-17 


Indian Budget 2016-17 Tax proposals for Pensioners 


Domestic incentives in addition to Make In India campaign, Indian Budget 2016-17 


Nil duty for Braille paper as per Budget 2016-17 


Reduces rate of refrigerated containers, Indian Budget 2016-17 


Exemption of ST for General Insurance services, Indian Budget 2016-17 


Service Tax changes for DUGKY as per Indian Budget 2016-17 


Income tax benefits to securitization trusts including trusts of ARCs as per Budget 2016-17 


Indian Budget 2016-17, benefits to researchers for patent 


Indian Budget 2016-17, benefits to start up companies 

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