• Notification Date: 20-01-2024
  • Notification No: N/A

PM Commends Record Collections, Cites GST and Simplified Income Tax as Key Reforms

Prime Minister Narendra Modi inaugurated the new campus of the National Academy of Customs, Indirect Taxes & Narcotics (NACIN) in Palasamudram, Sri Sathya Sai District, Andhra Pradesh. During his address, Prime Minister Modi emphasised the transformative tax reforms undertaken in the last decade. Reflecting on the complex and non-transparent tax systems of the past, he highlighted the introduction of the Goods and Services Tax (GST), simplified income tax, and the implementation of faceless assessment. 

These reforms, he noted, have resulted in record tax collections. The Prime Minister underscored the government’s commitment to returning people’s money through various schemes and outlined key changes such as the raise in the income tax exemption limit from 2 lakh to 7 lakh rupees. PM Modi credited post-2014 tax reforms with generating tax savings of approximately 2.5 lakh crore rupees for citizens. He commended the increasing number of taxpayers, attributing it to their confidence that their tax contributions are effectively utilised for the nation’s benefit. Urging officers to recognize their role in nation-building, he called for collective efforts to boost the country’s income, investment, and improve the ease of doing business. The inauguration ceremony witnessed the Prime Minister taking a walkthrough of an exhibition and engaging with Officer Trainees from the 74th and 75th batches of the Indian Revenue Service (Custom & Indirect Taxes) and officer trainees of the Royal Civil Service of Bhutan.