Weeks before Budget, Arun Jaitley lists out benefit of low tax rates

Finance Minister Arun Jaitley, at the National Academy of Customs Excise and Narcotics, said that India economy needs a broader base for which we need a lower level of taxation.
India’s peak tax rate, including surcharges, is as much as 35% but the effective rate is only around 23% due to multiple exemptions. Budget 2017 The introduction of the goods and services tax (GST) is also expected to bring down effective indirect taxes, The Economic Times reported.

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