A case for 15% corporate tax rate in India

In September 2019, the govt had reduced the corporate tax rate to 22% for companies that gave up all exemptions and incentives. Further, a 15% rate was offered to new manufacturing firms and could be extended to all companies. It will improve India’s competitiveness and is estimated at Rs 2.5 lakh crore revenue loss which could be theoretical and could be reoccupied.

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