The change in the political landscape and resurgent optimism in the Indian economy has created widespread expectations from the Budget 2014 with focus on: Improving investment climate by reducing legislative uncertainty caused by retrospective amendments and aggressive approach of tax authorities
The two most awaited mega tax reforms, the introduction of a comprehensive Goods and Services Tax (GST) in lieu of multiple indirect taxes and the Direct Tax Code (DTC), have been on the anvil for some time. The Interim Budget 2014 has not spelt out any definitive timeline for introduction of GST and DTC but only requested the political parties to resolve to pass the said laws.
