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Govt has tried to simplify taxation regime in budget: Revenue secretary
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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.
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| Currency |
Import |
Export |
US Dollar
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89.35 |
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