- On 20 September, 2019, Finance Minister, Nirmala Sitharamanannounced the largest reduction in corporate income tax (CIT) ratesin the last three decades through the Taxation Laws (Amendment)Ordinance, 2019.
- The reduced CIT rate makes return on investments made in India attractive. The reduction inrate and other favourable factors also pave the way for cementing India’s status as a favourablemanufacturing destination against the backdrop of existing global trade dynamics. With the headlineCIT rate for newly incorporated domestic manufacturing companies being reduced to 17.16%, themanufacturing sector is one of the largest beneficiaries.
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