The interim budget will be voted on account so we might not see any major announcements from the Finance Minister. However, we might see some announcements towards ease of doing business. With GST collections showing healthy growth, the Government can consider enhancing the threshold for GST registration to 40 lacs which currently is at 20 lacs. Further, while the GST council had proposed to make ISD mandatory for the distribution of credit, so we might see changes in GST legislation related to that. Further, on the customs front, there is a dire need to digitalize the process to verify the certificate of origin under FTA / PTA which will save time and effort for importers claiming benefits under FTAs / PTAs.
