Sitharaman urges industry to move beyond tax cuts, exemptions

Bengaluru, Sep 16 (UNI) union Finance Minister Nirmala Sitharaman on Wednesday called for a shift in the way industry and professional bodies make tax policy representations, urging them to move beyond demands for rate cuts, exemptions and concessions and back their proposals with data on compliance costs, revenue implications and unintended consequences. Addressing an ITRA conference here, Sitharaman said tax consultations should be a genuine exercise involving "evidence, experience and ideas" rather than merely providing stakeholders an opportunity to place representations on record. "Year after year, a very large part of the representation eventually comes down to three requests -…