Diabytes
Indirect taxation system News
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The nationwide Goods and Services Tax (GST) will overhaul India's convoluted indirect taxation system and unify the over USD 2 trillion economy with 1.3 billion people into a single market.
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Government's intention is to increase the revenue base but raising the taxation level could at times be a "retrograde" method, Finance Minister Arun Jaitley said Friday.
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Union Finance Minister Arun Jaitley Thursday said the present indirect taxation system is in a "complete mess" and sought support of political parties and state governments for implementation of Goods and Service Tax reform.
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