Indirect tax waits for GST to happen

No major changes which largely indicates that GST implementation is well on track

Extensive industry reach-out efforts for GST planned by government from April 2017

Several measures taken by rationalising Customs and Excise duty rates to boost digitisation, domestic manufacturing and address inverted duty structure.

Credit reversal provisions aligned, for treatment of interest/discounts on loans and deposits extended by Banks/NBFC.