June 18, 2021

Norobotsverification

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TIN will be required with the approval of the house design and cooperative society

The tax identification number or TIN has been made mandatory from now on to approve the design of the house. Besides, TIN has been made mandatory for registration of any co-operative society. Finance Minister AHM Mustafa Kamal has imposed this provision in the proposed budget for the next 2021-22 financial year. In his budget speech, he said, “I am proposing to impose the obligation to adopt TIN in the approval of house design and registration of co-operative societies in the expansion of Karjal.”

This means you have to take your TIN no matter where you go home in town or village. Apart from this, if you form a co-operative society with friends or colleagues, you have to register it and accept TIN. As a result, homeowners and co-operative societies will come under the net.

The Finance Minister has proposed to increase the price of cigarettes in the proposed budget for the fiscal year 2021-22. As a result, smokers already have to spend more to buy cigarettes. In his speech, the Finance Minister said that in order to reduce the use of tobacco products and increase revenue, I am proposing the following in the case of tobacco and tobacco products.

In the proposed budget, the finance minister said, “I am proposing to fix the price of 10 lower sticks of cigarettes at Tk 39 and above and a supplementary duty of 56 per cent.” Besides, I am proposing to fix the price of 10 sticks of middle level at Rs 63 and above, 10 sticks of high level at Rs 102 and above, 10 sticks of very high level at the rate of Rs 135 and above and supplementary duty of 75% at these three levels.

However, the finance minister did not put extra pressure on the local bidi industry. The budget proposal said, “I am proposing to keep the price of 25 sticks of hand-made filtered bidi at Tk 18, 12 sticks at Tk 9 and 6 sticks at Tk 8 and supplementary duty at 30 per cent without the help of machine like in the previous year.” I am proposing to keep the price of 20 sticks of filtered bidi at Tk 19, 10 sticks at Tk 10 and supplementary duty at 40 per cent.

It also said, “As in the previous year, I am proposing to fix the price of jordar at Tk 40 per 10 grams and supplementary duty at 55 per cent and the price of gul at Rs 20 per 10 grams and supplementary duty at 55 per cent.”