India Overhauls Tax Regime In 2025: GST Rate Cuts, Higher IT Exemption, Customs Simplification Next Focus - Free Press Journal

New Delhi : India overhauled its tax regime in 2025 with sharp cuts in Goods and Services Tax (GST) rates and a higher income tax exemption limit, with the spotlight now turning to customs duty rationalisation and procedural simplification in the coming Budget. Next year will see the new simplified Income Tax Act, 2025, to come into effect from April 1, replacing the over six-decade-old current In…