https://www.taxtmi.com/news?id=26157 Major tax reforms make the new personal income tax regime the default with simplified slabs, higher rebate and expanded standard deduction in that regime, and reduction of the top surcharge to lower the maximum marginal tax rate. Complementary direct tax measures raise presumptive taxation thresholds for MSMEs and professionals, extend start up reliefs, provide targeted cooperative sector concessions, and introduce anti avoidance and compliance provisions. Indirect tax proposals rationalise customs duties to promote domestic manufacturing and green mobility, amend customs and GST statutes to decriminalise certain offences and limit return filing windows, and revise excise duties for select products. en-us Wed, 01 Feb 2023 13:21:27 +0530 Wed, 01 Feb 2023 13:21:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=26157 Major tax reforms make the new personal income tax regime the default with simplified slabs, higher rebate and expanded standard deduction in that regime, and reduction of the top surcharge to lower the maximum marginal tax rate. Complementary direct tax measures raise presumptive taxation thresholds for MSMEs and professionals, extend start up reliefs, provide targeted cooperative sector concessions, and introduce anti avoidance and compliance provisions. Indirect tax proposals rationalise customs duties to promote domestic manufacturing and green mobility, amend customs and GST statutes to decriminalise certain offences and limit return filing windows, and revise excise duties for select products. News - Wed, 01 Feb 2023 13:21:27 +0530 https://www.taxtmi.com/news?id=26157