Finance minister Nirmala Sitharaman said here that
the cancellation of Adani Enterprises
In India currently has five tax rates for GST,
which was introduced in 2017
In 2021, the government considered overhauling
the tax by merging two of the tax rates
Some have criticised the five-year
old regime for having too many tiers.
we are not contemplating in 2023/24," Revenue Secretary
Sanjay Malhotra said in an interview
He said the government would ultimately want to have fewer
tax bands but did not give a timeline
The Indian government is also looking to simplify
its taxation structure for custom duty
Government also aims to collect 250 billion rupees
through a windfall tax
on petrol, turbine fuel and diesel that was
imposed from July 2022