Union Budget Highlights Financial Year 2017-18
The Union Budget 2017-18 is a budget of many peculiarities. For the first time, Budget has been advanced and presented on 1st February as against the usual practice of presenting the Budget on last working day of February. Also, for the first time, no separate Railway Budget has been presented and the same is merged with the Union Budget. Similarly, there are many more such distinctiveness in the current Budget. The taxation proposals in the current budget are more focused towards making taxation rates more reasonable, tax administration more fair and expand the tax base in the country. Effort is also made towards stimulating growth, relief to middle class, affordable housing, curbing black money, promoting digital economy, transparency of political funding and simplification of tax administration. Under the Indirect Taxes front, not many changes are proposed considering the fact that implementation of Goods and Services Tax is around the corner. The Finance Minister reiterated the commitment of the Government to meet the implement schedule for GST.
We have made our best effort to summarise the key changes in simpler manner under this budget highlights which is attached herewith. Trust the same would be found useful in understanding the taxation proposals.
To view Budget Highlights click here
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