Union Budget 2021 had an overarching objective of ‘AtmaNirbhar Bharat’. The Finance Minister has proposed significant changes under both Direct and Indirect Tax laws.

The Indirect Tax proposals mainly revolved around incentivizing the manufacturing sector, with key focus on increasing customs duties on many categories of goods, introducing a defined sunset period for conditional customs duty exemptions, as well as decreasing the compliance burden on taxpayers by doing away with requirement of GST audits by external Chartered Accountants.

The appended booklet ‘NITYA Insight | Issue 214 | Budget 2021: Key Indirect Tax Proposals’ contains our insight on various Indirect Tax proposals.

NITYA Insight I Issue 214 I Budget 2021-Key Indirect Tax Proposals

Please also click on the link below to watch our Managing Partner, Puneet Bansal giving his insights on Budget 2021.

Link: https://youtu.be/qsLzlzF3CHM

Trust you find the above useful. In case of any clarification, please feel free to contact.

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