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84% Indians Support Fiscal Year Changing to Calendar Year
January 26, 2018
Even as the government is in process of switching from the financial year, i.e., April to March, to the calendar year, i.e., January to December, a recent survey conducted by global audit and tax services company Deloitte found that 84% Indians prefer the new format over the current fiscal year format.
In May 2017, the government said that it has started the process to change the fiscal year format that will align with the agriculture cycle. Since the Goods and Services Tax was implemented on July 1, it was looked upon as a sign of the new fiscal year format adoption, it being supposedly starting in the second half of the new format of the fiscal year.
