2 hrs ago
Sitharaman Seeks Evidence-Based Tax Reforms, Outdated Rules Removed
Finance Minister Nirmala Sitharaman asked tax experts to help improve India’s tax system.
She said experts should not only ask for lower taxes or special exemptions.
They should also point out rules that are old and no longer useful.
Any suggested change should include facts about who it affects and how much money it could involve.
The government wants people to follow tax rules more easily and avoid unnecessary court cases.
Some limits for government tax appeals have been increased.
GST rates have been reviewed, while process changes are expected to be discussed in October.
Officials are also studying how to tax cryptocurrency, cloud services and commercial space activities.
Finance Minister Nirmala Sitharaman urged tax experts to identify outdated provisions for removal, even when stakeholders benefit from them.
She asked proposals to include data on affected taxpayers, compliance costs, revenue effects and possible consequences.
The government aims to prevent tax disputes, simplify voluntary compliance and target enforcement more precisely.
Appeal thresholds have been raised to ₹60 lakh for the Income Tax Appellate Tribunal, ₹2 crore for high courts and ₹5 crore for the Supreme Court.
GST rate rationalisation has preceded process reforms, while taxation of cryptocurrency, cloud computing and commercial space remains under review.
- Who
- Finance Minister Nirmala Sitharaman, tax professionals, industry bodies and the government.
- What
- Sitharaman called for evidence-based tax reforms, removal of outdated provisions and further examination of emerging-sector taxation.
- Where
- Bengaluru, India.
- When
- She spoke at the ITRAF conference; the next GST Council meeting is scheduled for October 7.
- Why
- To reduce tax disputes, improve voluntary compliance, target enforcement and modernise the tax system.
Key facts
- Speaker
- Finance Minister Nirmala Sitharaman
- Event
- International Tax Research and Analysis Foundation’s 8th International Tax Conference
- Location
- Bengaluru
- Tax appeal threshold
- ₹60 lakh before the Income Tax Appellate Tribunal
- High court appeal threshold
- ₹2 crore
- Supreme Court appeal threshold
- ₹5 crore
- GST Council meeting
- Scheduled for October 7
- Emerging issues
- Cryptocurrency, cloud computing and commercial space taxation
Quotes
Nirmala Sitharaman
India’s Finance Minister
“I wish to hear a submission that says, ‘here is a provision that no longer serves the tax system and ought to be removed even though we presently benefit from it’”
freepressjournal.in
“In a digital era how do you segregate how a product made in India has its roots outside India. For example, cloud… how do I tax it, who owns the cloud system”
freepressjournal.in
Sources
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