Budget Day Input Taxation Sector Gunjan Prabhakaran, Partner and Leader, Indirect Tax, BDO India
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Below the Budget Day Input Taxation Sector Gunjan Prabhakaran, Partner and Leader, Indirect Tax, BDO India
The Government has ably taken steps towards its goals for a Viksit Bharat by 2047. The key focus of the budget outlay has been on the poor, women, farmers and youth. From a tax perspective, the focus continues to be on tax rationalisation and simplification. The Government has also proposed a comprehensive review of Customs rates and exemptions, to alleviate challenges faced by domestic manufacturers. This would, inter alia, also lead to India becoming a more integral part of the global supply chains. The industry would have liked to see an amnesty scheme in Customs.
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