Amendments to the Finance Bill, 2021

#Polity #Economics

✅The Union Cabinet gives ex-post facto approval for the Government

amendments to the Finance Bill, 2021 (enacted on 28th March 2021 as the

 Finance Act, 2021 ).

✅The amendments were essential to clarify and rationalize the proposals further and address stakeholders' concerns arising out of amendments proposed in the Finance Bill.

Objective

✅The Government amendments to the Finance Bill, 2021 shall provide equity and inclusiveness to all the taxpayers by addressing stakeholders' concerns arising out of amendments proposed in the Bill.

✅The Government amendments to the Finance Bill, 2021 are tax proposals that shall generate timely revenue for the Government and streamline existing provisions by addressing grievances of the taxpayers.