Hon’ble Finance Minister, Nirmala Sitharaman presented the Union Budget 2022 on February 1, 2022, celebrating ‘Azadi ka Amrit Mahotsav’ and laid foundation for next 25 years as India enters into its ‘Amrit Kaal’.

The Budget brings significant changes in Direct and Indirect Tax laws with an all-inclusive and growth oriented vision. Key Indirect Tax changes include rationalization of Customs tariff, retrospective amendment in Customs law to overrule Supreme Court’s judgment in Canon India, new law & fully IT-driven framework for Special Economic Zones, more stringent conditions for availment of ITC under GST, retrospective levy of interest etc.

The appended booklet ‘NITYA | Budget 2022-cum-IDT Bulletin’ contains our insight on various Indirect Tax proposals along with the weekly Bulletin.

NITYA I Budget 2022-cum-IDT Bulletin I January Week 4

Please also click on the link below to watch our Associate Director, Gaurav Narula giving his insights on Budget 2022.

Link: https://www.youtube.com/watch?v=QloswifhwFg&feature=youtu.be

Hope you find this an interesting read! Please feel free to share your comments / feedback.