- India’s Prime Minister Narendra Modi plans to lower consumption taxes for the first time in nearly a decade
- This move aims to boost demand in the economy amid concerns about US tariffs affecting growth
- Modi announced next-generation Goods and Services Tax reforms to significantly reduce the tax burden nationwide
- Changes are expected around the Hindu festival of Diwali in October
- The reforms will benefit industries and small businesses
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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