Scribd Logo
Upload

Welcome to Scribd!

  • Analysis of BUDGET 2023-24

    Uploaded by

    Nihar Ranjan Prusty 92
    3 views7 pages
    The document summarizes the key changes proposed in the Indian Union Budget 2023-24 across various sectors including GST, defense spending, infrastructure allocations, MSME support, startups, and social spending. Major GST changes include new rules for suppliers using e-commerce platforms and delayed ITC claims. Defense saw a 10% increase while roads and railways saw 35-72% increases. MSME presumptive taxation limits were raised and loan costs reduced. Startup tax loss carry forwards were extended to 10 years. Health, education, skills and rural development also saw social sector emphasis.

    Original Description:

    Original Title

    Analysis of BUDGET 2023-24.pptx

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document summarizes the key changes proposed in the Indian Union Budget 2023-24 across various sectors including GST, defense spending, infrastructure allocations, MSME support, startups, and social spending. Major GST changes include new rules for suppliers using e-commerce platforms and delayed ITC claims. Defense saw a 10% increase while roads and railways saw 35-72% increases. MSME presumptive taxation limits were raised and loan costs reduced. Startup tax loss carry forwards were extended to 10 years. Health, education, skills and rural development also saw social sector emphasis.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    3 views7 pages

    Analysis of BUDGET 2023-24

    Uploaded by

    Nihar Ranjan Prusty 92
    The document summarizes the key changes proposed in the Indian Union Budget 2023-24 across various sectors including GST, defense spending, infrastructure allocations, MSME support, startups, and social spending. Major GST changes include new rules for suppliers using e-commerce platforms and delayed ITC claims. Defense saw a 10% increase while roads and railways saw 35-72% increases. MSME presumptive taxation limits were raised and loan costs reduced. Startup tax loss carry forwards were extended to 10 years. Health, education, skills and rural development also saw social sector emphasis.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 7

    ANALYSIS OF

    BUDGET 2023-24

    GROUP MEMBERS:-
    SAKET MANDHOLIA

    KAPIL AGRAWAL
    SIDDHANT KUMAR PRADHAN
    RAJESH ROSHAN BEHERA
    SWADHIN KUMAR NAYAK
    NIHAR RANJAN PRUSTY
    MAJOR CHANGES IN GST IN BUDGET 2023-
    24
    • Supplier of goods through Electronic Commerce operators will now be eligible to opt for
    composition Scheme
    • Payment of amount towards ITC reversal in case payment of invoice not
    made within 180 days
    • ITC on CSR Expenses has now specifically been blocked
    • New Section for penalty on Electronic Commerce Operators
    • Value of exempt supply for purposes of apportionment of credits shall include sale of
    warehoused goods to any person before clearance for home consumption
    SECTOR WISE ALLOCATION OF BUDGET 2023
    •Defense Ministry - From Rs 5.25 trillion to Rs 5.94 trillion
    •Road Transport and Highways Ministry-
    From Rs 1.99 trillion to Rs 2.70 trillion
    •Railways Ministry- From Rs 1.4 trillion to Rs 2.41 trillion
    •Consumer Affairs, Food and Public Distribution Ministry-
    From Rs 2.17 trillion to Rs 2.06 trillion
    •Home Affairs Ministry- From Rs 1.85 trillion to Rs 1.96 trillion
    •Chemicals and Fertilizer Ministry- From 1.07 trillion to Rs 1.78 trillion
    •Rural Development Ministry- From Rs 1.38 trillion to Rs 1.60 trillion
    •Agriculture and Farmers' Welfare Ministry- From Rs 1.32 trillion to
    Rs 1.25 trillion
    •Communications Ministry- From 1.05 trillion to Rs 1.23 trillion
    •Development of the Pharmaceuticals Industry- From Rs 100 crore
    (2022-23) to Rs 1,250 crore (2023-24)
    CHANGES IN MSME SECTOR AND STARTUP
    • MSME
     Credit costs will be reduced by about 1%.
     The presumption taxation for Micro units has been increased from
    Rs. 2 crore to Rs. 3 crore.
     Turnover limit for certain professionals has also been increased from
    Rs. 50 lakh to Rs. 75 lakh.

    • Startup
     Losses now can be carry forward from 7 years to 10 years.
     Incorporation of eligible startups for providing tax incentives has
    been increased till March 31, 2024
    CHANGES IN SOCIAL SECTOR

    • Health
    • Education
    • Skill Development
    • Livelihood and Rural Development

    You might also like