Govt has tried to simplify taxation regime in budget: Revenue secretary

Top Stories

»	India’s manufacturing sector strengthens further in recent quarters with robust GVA growth
»	Precious metals’ prices dip over dollar gains
»	RBI proposes ban on 3rd‑party sales incentives to bank staff to curb mis-selling
»	Sensex, Nifty open in red; IT index dips 3.58 pc
»	RBI's 'Financial Literacy Week' to stress KYC awareness in Gujarat and UTs

IANS | 02 Feb, 2023
Government has tried to simplify the taxation regime in the budget, be it corporate tax or personal tax, Revenue Secretary Sanjay Malhotra said on Thursday.

Addressing a post-budget discussion organised by industry body FICCI, Malhotra further said that the government's thrust is on improving trust, having tax rates without increasing the tax cuts and on certainty and stability.

Central Board for Direct Taxes (CBDT) chairperson Nitin Gupta, who was also present on the occasion, said that the government has tried to prevent leakage of revenue through appropriate changes.

"Our approach to the budget, on the customs side, is of simplification. We have brought down the number of rates from 21 to 13," Vivek Johri, chairperson, Central Board of Indirect Taxes and Customs (CBIC) said during the interactive session on the Union budget.

"We have once again looked at exemptions in the budget which are no longer needed. Also, we have carved out exceptions for the condition exemptions in the law," Johri said further.