Budget introduces structural reforms designed to grant taxpayers greater autonomy, says Revenue Secretary

Union Budget 2026–27 introduces structural reforms designed to grant taxpayers greater autonomy and reduce their engagement with tax authorities, Revenue Secretary Arvind Shrivastava told industry leaders at a FICCI interactive session on the Union Budget 2026-27. Shrivastava said the reforms reflect the government’s conviction that taxpayers prefer compliance over disputes. The fundamental thought behind this is that we believe the general incentive with the taxpayer is to be honest, would rather like to pay his tax dues as long as he can appreciate those to be legitimate, he said. The budget extends the return filing revision period by three months and permits updated returns for four years.

On indirect taxation, the government is expanding benefits under the Authorised Economic Operator scheme and shifting customs oversight from transaction-level approvals to entity-based audits. He noted that reforms to data centres and special economic zones aim to create a level playing field where tax structures do not disadvantage domestic industry. Tax treatment has been designed in a manner that is equitable and enables fair competition by ensuring a level playing field.

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