New Delhi: Increasing the tax rate to increase the GDP ratio may not be the answer, said the Ministry of Finance officials on Wednesday and convincing the stable and predictable tax regime industry.
“This is now a government policy to provide a stable and predictable tax regime.
This comes from 2019 when we come up with a lower tax rate for the corporate sector.
All ideas are to provide corporate sector time to plan and provide a stable tax regime so that you are.
Can think of other things where you want to invest and how you want to invest, “Tarun Bajaj’s income secretary said the panel discussion in the CII annual session, added that the government expected revenue” very, very strong “, thanks to the performance of the corporate sector despite a pandemic.
He also convinced India Inc.
that his department would not call to pay additional taxes in March.
Bajaj said that impressive company performance did not result in private investment kickstarting.
He expressed his desire to understand the reason why the corporate sector did not invest and what else needed from the government to revive investment to revitalize long-term growth in the economy.
He also said the government proposed to clean backlog refunds and ensure that this was made in the same financial year.
In fact, he said that the highest refund was made in the year of Pandemi.