Indirect Taxes: Budget 2025 boosts domestic manufacturing, eases tax burden

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Indirect Taxes: Budget 2025 boosts domestic manufacturing, eases tax burden - Business Standard

Quick Summary:

While the government has introduced a block of 3 years for the computation of arm’s length price (ALP) in relation to an international transaction under Income Tax, to reduce the compliance burden.

With a reduced tariff slab rate, it is clear that the government intends to achieve rationalisation of customs duty structure in India.

In this Budget, seven tariff rates have been removed - 25 per cent, 30 per cent, 35 per cent, and 40 per cent reduced to 20 per cent, while 150 per cent, 125 per cent, 100 per cent reduced to 70 per cent.