Union Budget: The government should prioritize eliminating cess and surcharges in addition to broadening the tax base in industries with rapid growth.

The government must raise tax revenue in Budget.

According to a statement made by TCF, experts believe that in order to boost economic growth and fund developmental initiatives, the government must raise tax revenues. It was discovered that a significant barrier to attaining the desired collection was poor tax compliance. As a result, we are dealing with high taxes, a complicated tax system, and an increase in lawsuits.

“Enforcement authorities are working hard to check unlawful commerce, but tax evaders are one step ahead,” remarked P C Jha, a former chairman of the Central Board of Indirect Taxes and Customs (CBIC), at a brainstorming session sponsored by TCF.  He also emphasised the government’s use of cutting-edge instruments to uncover tax evasion.

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