India’s 2025 tax reforms: GST cuts, higher I-T exemption, customs next - Telegraph India

India overhauled its tax regime in 2025 with significant cuts in Goods and Services Tax (GST) rates and a higher income tax exemption threshold, with attention now shifting to customs duty rationalisation and procedural simplification in the forthcoming Budget. From April 1 next year, the new simplified Income Tax Act, 2025, will come into force, replacing the more than six-decade-old Income Tax A…