Experts emphasise the necessity of transitioning from high tax rates to a revenue-focused approach through moderate rates and broadening the tax base to attain 'Viksit Bharat' by 2047. They suggest a simplified tax structure for businesses and individuals, along with a streamlined GST system to boost formal sector participation and address challenges like tax evasion and classification issues, ultimately enhancing tax to GDP ratio for economic development. Read The Rest at :
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