Synopsis of Union Budget 2023-24
Hon’ble Finance Minister of India introduced Finance Budget 2023 yesterday, before the elected house of members in the parliament. The Budget is aimed at providing foundation for India@100. The proposed tax changes in the budget have been kept minimalistic and impetus is more on growth and inclusiveness of masses.
On the direct tax part, the proposals are aimed at maintaining continuity and stability of taxation along with further simplification and rationalisation of various provisions to reduce the compliance burden. Similarly on indirect taxes, it’s a mix of increase or decrease in customs duty rate with some legislative changes alongside.
With this background, we hope that you will find our synopsis of the Finance Budget proposal useful and insightful.
Happy Reading!
