But since Cesses and surcharges are not part of this pool,
an increase in revenues through this channel helps shore up only the Centre's coffers.
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2
He said that the reason behind India starting off with multiple rates was that the country had 17 taxes and
23 Cesses which were amalgamated into the GST.
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3
Finance Minister Nirmala Sitharaman announced a significant cut in corporate tax rates,
thus bringing down the effective tax rate(including various Cesses and surcharges) on corporations from 35% to 25%.
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4
He said that the reason behind India starting off with multiple rates under was that the country had 17 taxes and
23 Cesses, which were all amalgamated into the GST.
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5
It is being said that the complex tax system has been exhausted in India and a
tax system has been created in addition to more than a dozen different types of taxes and many Cesses.