Budget Highlights 2020-21 – Indirect Taxes

  • Simplified GST returns with features like SMS based filing for nil return and improved input tax credit flow to be implemented from 1st April 2020 as a pilot run.
  • Customs duty raised on footwear to 35% from 25% and on furniture goods to 25% from 20%.
  • 5% health cess to be imposed on the imports of medical devices, except those exempts from Basic Customs Duty.
  • Excise duty proposed to be raised on Cigarettes and other tobacco products. No change made in the duty rates of bidis.

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