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Indirect taxes in India have been in a constant state of evolution. Now, with the passage of the One Hundred and First Amendment Act of the Constitution of India enabling the introduction of a comprehensive Goods and Services Tax – GST in India, the Indian system of indirect taxation awaits what is being believed to be the most revolutionary step towards rationalization of indirect taxes in India
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Budget 2017 Update: The rate of Income Tax has been reduced from 10% to 5% for Income from Rs. 2.5 Lakhs to 5 Lakhs. There is no other change in the Income Tax slab Rates.
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