Budget 2018 Analyzing Tax Proposals

The article takes a close look at the highlights of Union Budget 2018 in terms of direct and indirect taxes.

- Parul Mittal

While Budget proposals of 2018 were in all aspects people-friendly with announcements on major reforms in healthcare, agriculture, air pollution, job creation, roads and railways and other common problems of the common man, the direct tax and indirect tax proposals were also landmarks on their own account. 2018 being the first budget after introduction of GST, a few changes are proposed on Indirect taxes front. The nomenclature of central indirect tax regulatory body has been proposed to be changed to demonstrate the subsuming of excise duty on major goods within GST ambit.