No Tax Rate Changes in India's Budget 2023
Feb 01, 2024 12:08
India's Finance Minister Nirmala Sitharaman announced no changes in direct and indirect tax rates, including import duties, in the 2023 budget. The number of tax filers has increased significantly since 2014.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties.
She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014.
The processing time of tax returns has been reduced from 93 days in FY14 to 10 days; and refunds have been made faster, she said.
The government continues to be on the path of fiscal consolidation to reduce fiscal deficit to 4.5 pc in 2025-26.
She added that the tax base of Goods and Services Tax (GST) has more than doubled since FY14.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.