Indirect tax: Few but well-justified changes in Budget 2020

Customs duties and exemptions need to be streamlined

A lion’s share of the tax proposals in this Budget has been taken by the direct taxes. Much less has been done on the indirect tax side. This is justified in a way, because indirect tax consists of customs duty and goods and services tax (GST). The GST is not within the purview of the Budget so far as the rates of duty are concerned, though the policy can certainly be discussed, which has been done. In regard to customs, not many changes have been made. This shows the intention of the finance minister to show stability in the customs