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In a move to simplify India’s tax structure, the government has proposed the removal of seven additional tariff rates in the 2025 Union Budget. This will leave only eight tariff rates remaining, following a similar reduction made in previous budgets. The aim of this reform is to reduce complexity in the tax system, making it more transparent and easier for businesses to navigate.
The decision is expected to improve ease of doing business, reduce compliance costs, and help streamline the overall tax system. By consolidating and simplifying the tariff structure, the government intends to create a more efficient tax environment that will encourage investment and growth. This change is also likely to enhance India’s competitiveness in the global market by ensuring that businesses have fewer hurdles in terms of tariffs and duties.
Also Read: Key Takeaways from Union Budget 2025
