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Corporate tax rate cut impact visible in two years: CII chief Vikram Kirloskar
The revised corporate tax rates are competitive and its impact will be visible in the next two years, industry body CII's president Vikram Kirloskar said on Tuesday as he emphasised that the government listened to the industry "word by word" on lowering rates.
New Delhi: The revised corporate tax rates are competitive and its impact will be visible in the next two years, industry body CII's president Vikram Kirloskar said on Tuesday as he emphasised that the government listened to the industry "word by word" on lowering rates.
He said the industry pushed the government a lot for reducing the rates. "For me, it was a surprise (when the government in September announced the significant cut in tax). I felt really good.
I felt that they have listened to us. Very frankly and they listened 'word to word'," Kirloskar said. He told after a pre-budget meeting with Finance Minister Nirmala Sitharaman that was attended by him and representatives of other industry organisations.
When asked if the industry was looking for further reduction in tax rates, he replied in the negative. "No. I think it is competitive.
I know people who are looking at investing either in Thailand, Indonesia, or India have now got India back in the game. I think you will see the results in next two years," he said.
