Retro tax gone, industry must revive animal spirits: Revenue Secretary

Revenue Secretary Tarun Bajaj says withdrawal of retrospective tax amendments is the government's policy to provide a stable and predictable tax regime

Days after the Centre withdrew the retrospective tax amendments that led to international arbitration, Revenue Secretary Tarun Bajaj on Wednesday said it was the government’s policy to provide a stable and predictable tax regime.
 
He added that robust tax revenues in the first quarter of the current fiscal were encouraging but urged industry to revive the “animal spirit” as far as private investment is concerned. “This is now the government’s policy to give a stable and predictable tax regime. This emanates from 2019. We came up with lower tax rates for the corporate sector, and also lower taxes for