I-T, GST relief boosts suppy too, says CEA

ITALSOINTRODUCED a special 40% rate for sin goods, moves that will lowerthe tax incidence ona wide section of businesses and benefit the end-consumers.

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The 12% and 28% rates have been abolished.

Inthe FY26 Budget,the Cen-tre sharply raised the income tax exemption limit to %12 lakh from %7 lakh in the new tax regime and lowered tax incidence under various income slabs, which the government said, would leave around %1 lakh crore cash in the hands of taxpayers to boost consumption and investment.