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

Top Stories

»	US tariffs on Indian goods among lowest after trade deal
»	Indian rupee trades over 1 pc higher after US trade deal
»	US to drop 25 pc tariff linked to India’s Russian oil purchases: White House
»	‘Made in India’ products will now have reduced tariff of 18 pc in US: PM Modi
»	Union Budget: Defence soars to Rs 7.85 lakh crore, big bets on electronics, biopharma and railways

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.