As India marked eight years of the Goods and Services Tax on Tuesday, Congress leader Rahul Gandhi slammed the Modi government and termed the GST rolled out by it as a "brutal tool of economic injustice and corporate cronyism."
Union Finance and Corporate Minister Nirmala Sitharaman on Tuesday said that India's tax reforms and digital transformation in tax administration have increased revenue and reduced compliance costs.
Delhi NCR [India], February 6: The Union Budget 2025 has set the stage for sustained economic momentum, with significant allocations for infrastructure, tax reforms, and urban transformation. For the real estate sector, it brings both opportunities and areas for further contemplation. While
Ambassador Atul Keshap urged India to push for much more ambitious reforms in taxation, regulatory frameworks, and business procedures to enhance the country's global competitiveness and attract greater investment.
New Delhi [India], January 31: As anticipation builds around the Union Budget 2025, investors, businesses, and policymakers eagerly await key reforms that could reshape the economic landscape. This year's budget is expected to focus on tax reforms, housing benefits, incentives for the automo
The industry players in the infrastructure sector -- from construction to real estate, transportation, and urban development -- also emphasised the need for fiscal reforms and policies that would ease the burden on infrastructure projects.
Days ahead of the Union Budget 2025-26 on February 1, the industry players in the manufacturing sector have called for favourable policies boosting local manufacturing, reducing GST on consumer durables, and tax reforms to increase disposable incomes and stimulate consumer spending.
The common thread among industry leaders is the need for enhanced policy support to reduce India's reliance on imports and bolster domestic manufacturing, innovation, and energy security.
The report highlighted that targeted investments in job creation, along with enhanced farm and non-farm incomes, could play a significant role in reviving the rural economy.
Comprising around 200 member companies, the Forum serves as a platform for dialogue on critical tax policy issues, connecting Government of India policymakers, global tax experts, and the business community to champion innovative and forward-thinking tax reforms.
Emphasis on fiscal consolidation, tax system simplification, and investment-driven growth, in the Budget 2025 will lay a solid foundation for sustained economic development in India, asserted global consulting and professional services firm Ernst & Young India.
Pakistan Prime Minister Shehbaz Sharif has approved the separation of Customs and Inland Revenue Services (IRS), following a previous proposal that was resisted by tax groups. The reform aims to establish separate oversight for the two bodies and restructure the Federal Board of Revenue (FBR