First Look at IDT impact of Union Budget 2026

J the app is delighted to share the first look IDT impact of the Union Budget 2026 that signals a calibrated but structurally important recalibration of India’s indirect tax framework, with targeted interventions across GST and Customs aimed at resolving long-standing interpretational disputes, easing liquidity pressures, and improving certainty for cross-border trade and services. Rather than introducing sweeping rate changes, the Finance Bill focuses on correcting design distortions, rationalising procedures, and aligning tax administration more closely with commercial realities and destination-based taxation principles. The following note outlines the key indirect tax measures under GST and Customs that are likely to have a material impact on businesses, exporters, intermediaries, and supply chain participants.