BENGALURU: As the Budget 2015 is approaching nearer, whether it is a common man or a corporate investor everyone is expecting Modi government to deliver a reform oriented budget. It is going to be a very challenging task for the government to strike a balance between the common man expectations and fiscal conditions.

Thanks to the Business Insider, which has come up with few recommendations made by the industries to make reforms on indirect tax mechanism to inflate India’s rank in the ‘Ease of Doing Business’ list.

Goods And Service Tax: Goods and Service Tax (GST), one of the biggest taxation reforms is expected to be integrated in State economies to boost the overall growth of the nation’s financial structure. It will create a single Indian market to enhance the economy. 

It is a comprehensive tax fee imposed on manufacture, sale and consumption of goods and services at national level.  Under GST the taxation burden will be divided equitably among manufacture and services by lowering tax rate. It will help in building a corruption free tax administration. Central government has agreed to introduce GST regime in India thereby focusing on various aspect of it.

Read More: Enhance your Take Home Income With Tax Efficient Salary Structure

10 Countries on Account Of Their Tax Rates