EY on Budget 2025: consolidated sub-service tax alert

Delighted to present the EY Budget 2025 Alert, a comprehensive guide to the pivotal tax and policy changes proposed in the Union Budget 2025. This year's budget projects a Gross Tax Revenue growth of 10.8% and prioritizes capital expenditure with an allocation of INR 11.2 lakh crore for infrastructure, underscoring the government's dedication to strengthening our economic infrastructure.

  1. Corporate Tax Simplification: The upcoming income tax bill will streamline the tax code, with no change to corporate tax rates and extended exemptions to foster a stable investment climate.
  2. Merger Process Efficiency: Simplifying the merger process and extending fast-track approvals will likely boost corporate restructuring, promoting business agility and growth.
  3. Transfer Pricing and International Tax Alignment: Introducing block assessments for transfer pricing and expanding safe harbour rules are set to minimize compliance burdens and litigation.
  4. Customs and GST Reforms: Customs duty adjustments and clarified GST rules are aimed at boosting domestic production and simplifying trade processes, promoting economic growth.
  5. Personal Tax Relief: The budget brings a boon for low and middle-income taxpayers, with a significant focus on enhancing disposable income and stimulating consumption.

For a deeper dive into these updates, download the full the EY Union Budget 2025 Alerts.

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Download: Union Budget 2025 - Consolidated tax and policy alert