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It is essentially an optimistic budget with a long term vision of growth. With special emphasis on infrastructure & employment, revamping PPP’s, promoting start-up’s in technology sector and corporate tax reduction in a phased manner, the government has laid out a strong foundation for double digit growth.
With various tax reforms proposed in the budget, the government has further reassured the investors of a stable tax regime and no retrospective tax amendments. This is a significant move to stimulate confidence of foreign investors.
However, increase in service tax was detrimental for us as we are a nascent industry and service tax structure impacts our business heavily. We are pinning our hope on the GST regulation which will play a trans-formative role for the industry. - Raghunandan G, Founder and CEO, TaxiForSure
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