Finance Minister Goyal said single window clearance for film making to be made available to Indian filmmakers, anit-camcording provision to be introduced to Cinematography Act to combat film privacy. He notes “Tax collections have increased significantly from Rs 6.38 lakh crore in FY14 to almost Rs 12 lakh crore in FY19 with nearly 80% growth in the number of taxpayers”.
He added “Simplification of direct tax system will benefit taxpayers; direct tax reduced and tax interface made simpler and faceless to make life easier; resulting in increase in tax collections and return filings and there will be no interaction between the tax authority and the taxpayer”. Furthermore all income tax returns to be processed within 24 hours and refunds to be issued simultaneously.
Moreover he added “Our govt wants GST burden on home-buyers to reduce and so we have requested the GST Council to set up a group of ministers who will now work out how to reduce the burden on home-buyers”.
