https://www.taxtmi.com/news?id=1193 The government proposes a new Direct Tax Code to create a simpler, broad based direct tax regime that lowers rates, incorporates time tested practices, improves compliance and reduces litigation. Parallelly, a nationwide GST is proposed to replace multiple Centre State indirect taxes, harmonise exemptions and thresholds, and pursue phased rate unification. Implementation depends on a pre existing IT infrastructure and coordinated Centre State governance; stakeholder consultation and a TAGUP led roadmap are central to preparing administrative and technical parameters for roll out. en-us Fri, 23 Jul 2010 17:43:43 +0530 Fri, 23 Jul 2010 17:43:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1193 The government proposes a new Direct Tax Code to create a simpler, broad based direct tax regime that lowers rates, incorporates time tested practices, improves compliance and reduces litigation. Parallelly, a nationwide GST is proposed to replace multiple Centre State indirect taxes, harmonise exemptions and thresholds, and pursue phased rate unification. Implementation depends on a pre existing IT infrastructure and coordinated Centre State governance; stakeholder consultation and a TAGUP led roadmap are central to preparing administrative and technical parameters for roll out. News - Fri, 23 Jul 2010 17:43:43 +0530 https://www.taxtmi.com/news?id=1193