Union Budget 2021:Government to take all steps to smoothen GST- Key Takeaways

Finance Minister Nirmala Sitharaman says while announcing the 6th pillar of Budget 2021-22.

– No deduction to employers for late deposit of employee contribution to Provident Fund
-To extend eligibility for startups to claim tax holiday by 1 year
– Will take steps to further smoothen GST and reduce inverted duty structures in GST
-Custom Duty Policy should promote domestic manufacturing for which we are cutting duty on copper scrap to 2.5 percent; looking to bring bylon at par with polyester with respect to taxation; and duty on Naptha reduced to 2.5 percent. We are also rationalizing customs duties on Gold and Silver

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