AMN /
Finance Minister Arun Jaitley has said the government is committed to bring in a reasonable and globally-competitive tax regime through reduction in corporate tax rate to 25 per cent over the next four years. Addressing a meeting of businessmen in Pune, Mr Jaitley said India have to be globally competitive in the direct taxes regime and government will start process of reduction in the corporate tax from next year.
Taking a dig at the previous UPA government for bringing in the retro tax, Mr Jaitley said this had resulted in many disputes which gave the country a bad name among global investors who chose to leave the country. Stating that GST has the potential to boost the GDP, Mr Jaitley said the Congress is stalling the passage of the new taxation Bill without understanding its benefit.