Abstract
The landscape of taxation in India has undergone significant changes in recent years, particularly in the areas of Income Tax and Goods and Services Tax (GST). This paper examines the latest amendments in both these areas, focusing on their impact on businesses and commerce in India. The Income Tax reforms introduced in the Finance Act 2023 aim to simplify the tax structure and enhance compliance, while GST amendments focus on addressing loopholes and improving the efficiency of tax administration. This study explores these changes in detail, their expected effects on businesses, and the broader economic implications for the Indian commerce sector.
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