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 spoke to PTI after a pre-Budget meeting with Finance Minister Nirmala Sitharaman that was attended by him and representatives of other industry organisations.