Doesn't make sense to let go MAT credits: Vedanta's Pallavi Joshi Bakhru

Pallavi Joshi Bakhru, group head taxation, Vedanta Limited, the metals-cum-mining conglomerate, explains why some large corporate groups may not avail of the lower tax rates anytime soon

In a bid to revive animal spirits in the economy and the sputtering GDP growth, the government last month announced a new corporation tax regime. Pallavi Joshi Bakhru, group head taxation, Vedanta Limited, the metals-cum-mining conglomerate, explains to Sudipto Dey why some large corporate groups may not avail of the lower tax rates anytime soon. Edited excerpts:

CBDT has clarified that MAT credit would not be available for companies opting for 22 per cent rate of corporation tax. What does that mean for large corporate groups in terms of transitioning to the new tax structure?

For large corporate groups like ourselves, it