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GST meet : Government proposes to slash corporate taxes
100 views | Sep 20, 2019, 11:56:15 AM | Mirror Now
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In a major fiscal booster, the government slashed the effective corporate tax to 25.17% inclusive of all cess and surcharges for domestic companies. Finance minister Nirmala Sitharaman announced that the new tax rate would be applicable from the current fiscal year which began on April 1. The revenue foregone on reductions will be Rs 1.45 lakh crore annually. This is being done to promote investment and growth.
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