The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for Finance & Corporate Affairs Smt Nirmala Sitharaman during a Press Conference in Goa today. The salient features of these amendments
The Union Budget 2019-20 is aimed at strengthening the fundamentals. From a consumer electronics industry perspective, Government of India’s move to increase basic customs duty (BCD) on indoor and outdoor unit of split system air conditioners from 10% to 20% and CCTV cameras and IP cameras from 15% to 20% is a positive step forward.