Budget 2026: FM lays out trust-first tax regime across income tax, GST and customs; what should you note
FM Nirmala Sitharaman has made a clear shift in India’s tax philosophy, from fear-driven enforcement to trust-based, corrective compliance. The proposals narrow criminal liability, encourage voluntary disclosures, and prioritise proportional penalties over prosecution. Across income tax, GST and customs, the emphasis is on certainty, system-led governance and reduced litigation.
FM Nirmala Sitharaman has made a clear shift in India’s tax philosophy, from fear-driven enforcement to trust-based, corrective compliance. The proposals narrow criminal liability, encourage voluntary disclosures, and prioritise proportional penalties over prosecution. Across income tax, GST and customs, the emphasis is on certainty, system-led governance and reduced litigation.
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