“From an Indirect tax perspective, it is widely anticipated that the Government may bring in Amnesty schemes for settlement and resolution of pending Customs and GST litigation. This coupled with a definitive and time-bound commitment towards constitution of GST Appellate Tribunals would be affirmative steps towards clearing past litigation and providing speedier dispute resolution. The Budget is expected to further the Make-in-India initiative by reducing the customs duty rates for components/ parts/ raw materials whereas simultaneously hiking the Customs duty rates for finished goods to curb imports in some of the key sectors including Electric Vehicles, renewable energy and manufacturing. Conditions/ restrictions with regard to availment of GST credits may be relaxed to allow availment of credits on certain key spends by organizations such as employee and health insurances etc.”- Mr. Manish Mishra, Partner, JSA on Budget 2023 Indirect Tax Expectations.