Govt Highlights Shift in Tax Burden and Rising Taxpayer Base Over the Last Decade

The Indian government highlighted a significant shift in the tax burden and an increase in the taxpayer base over the last decade. The report emphasizes the government’s efforts to broaden the tax base and improve tax compliance through various reforms and initiatives. Key highlights include the introduction of the Goods and Services Tax (GST), the implementation of the Insolvency and Bankruptcy Code (IBC), and measures to curb black money and promote digital transactions. The government also noted an increase in direct tax collections and a rise in the number of taxpayers, reflecting improved compliance and economic growth. The report underscores the importance of continued reforms to sustain this momentum and further enhance the efficiency and effectiveness of the tax system. The government’s focus on transparency, accountability, and ease of doing business is expected to drive future growth and development in the Indian economy.