#GST in budget 2019, relief to small business and cinema goers

Most items of daily use of the poor and middle class are now in the 0% or 5% tax slab.

  Cinema goers who were subjected to multiple taxes up to 50% are mostly paying much lower tax at 12% now

Exemptions from GST for small businesses has been doubled from ` 20 lakh to ` 40 lakh. 

Further, small businesses having turnover up to ` 1.5 crore have been given an attractive composition scheme wherein they pay only 1% flat rate and have to file one annual return only.

Similarly, small service providers with turnover upto `50 lakhs can now opt for composition scheme and pay GST at 6% instead of 18%.

Budget 2019- abolished Customs duties on 36 capital goods, single point of approval,digitalization of export/ import transactions and leveraging RFID technology for export logistics

Honourable FM Speech

"66. To promote the “Make in India” initiative, we have undertaken rationalization of customs duties and procedures. Our Government has abolished duties on 36 capital goods. A revised system of importing duty-free capital goods and inputs for manufacture and export has been introduced, along with introduction of single point of approval under section 65 of the Customs Act. Indian Customs is introducing full and comprehensive digitalization of export/import transactions and leveraging RFID technology to improve export logistics. "