Tax Changes In Budget Aimed At Stability & Predictability: Revenue Secretary

• This year it will be our attempt to bring stability in GST structure, as the FM mentioned in her Budget speech“
• Personal income tax is a work in progress and we would need some time and the industry’s inputs on it.
• Govt has extended date of setting up manufacturing units based on industry demand due to covid impact. There is a big push on capex and we hope it will have impact on demand and supply.
• No one expected revenue buoyancy, but the fiscal deficit will be same as the extra spending is picked up by extra revenue.
• In the current year, good revenue from capital gains tax expected. Estimated at Rs 60,000 crore-Rs80,000 crore.

Source: CII post-budget interactive session

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