Reducing tax rate proposals appreciated Hemant Bangur

2 Feb 2017

This budget is considered to be historic in more ways than one. Besides, advancement of date of presentation from February, 28th to February, 1st and merging the Railway budget with the   General Budget, it also removed the classification of Plan and   Non-plan expenditure.
We appreciate the acceptance of its proposals to reduce tax rate for MSME Sector submitted in its Pre-budget Memorandum which has now been reduced from 30 pc to 25 pc for firms with a turnover of Rs.5 0 lacs. (President, Merchants’ Chamber of Commerce & Industry)