On Friday, the Centre announced a reduction in the base corporation tax rate to 22 per cent from 30 per cent.
The GST Council may consider merging the two brackets 12 per cent and 18 per cent to a single bracket.
Government slashed the income tax rate for companies by almost 10 percentage points to 25.17 per cent.
Corporate tax rate cut for companies by almost 10 percentage points to 25.17 per cent.
The GDP growth in the April-June quarter of the 2019- 20 fiscal was 5 per cent, according to government data.
Corporate tax rate cut from 30 pc to 25.2 pc to spur growth- this is a great move which will firmly revive growth and investment.
Governor also welcomed the government announcement in the morning to slash corporate tax across the board.
The proposed GST tax cuts will have limited impact on government revenue.
More details are awaited.
The number of employees also increased to 1.55 crore in 2017-18 from 1.48 crore in the previous year.