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Which type of tax was reduced after 1991?

Marginal tax rate was reduced after the 1991-92 tax reforms. During this reform, the marginal tax rate was brought down to 40%. In 1996-97, there were further tax reforms which brought down the marginal tax rate to 35%. You can read about the Tax Administration Reform Commission – TARC. Mandate, Report, Recommendations in the given link.

Further readings:

  1. Tax Policy Council & Tax Policy Research Unit: Notes for UPSC
  2. Taxation in India – Direct taxes & Indirect Taxes, Features of Taxation System

Related Links

Important Economic Terms Related to Union Budget

Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme

CBDT – Central Board of Direct Taxes: Functions and Structure

Difference between Economic Survey and Union Budget

Goods and Services Tax Council – Background and Composition [UPSC Polity Notes]

Previous Years Economy Questions in UPSC Prelims [2013-2021]

Value Added Tax – Overview, Difference between Income Tax and Limitations 

Corporate Tax – UPSC Notes for Indian Economy General Studies paper – 3

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