Budget 2024-25: Major GST and Customs Duty changes announced by FM

In the Union Budget for 2024-25, significant changes to GST and customs duties were announced. Key highlights include a reduction in GST on electric vehicles and parts, aiming to boost the EV industry. The government has also simplified GST compliance by introducing a single portal for filing returns. Customs duties on certain imports are revised to support domestic manufacturing. Additionally, measures to combat tax evasion and enhance digital infrastructure are in place. These adjustments are designed to streamline tax administration, foster economic growth, and promote sustainable practices.