Report
GST
to boost
ESDM sector
Once the GST is introduced, the total tax rates( for ESDM industry) will actually come down. So, it is something the industry is eagerly looking forward to.
The Electronics System Design and Manufacturing( ESDM) industry would receive a major boost with the introduction of GST in terms of attracting foreign investment and creating a level-playing field. " Once the GST is introduced, the total tax rates( for ESDM industry) will actually come down. So, it is something the industry is eagerly looking forward to," India Electronics and Semiconductor Association( IESA) President M N Vidyashankar said.
A four-tier GST tax structure of 5 per cent, 12 per cent, 18 per cent and 28 per cent that aims to lower tax incidence on most goods and keep out essential items was decided by a highpowered council of Government of India.
For( ESDM industry) maximum rate( GST tax structure) is going to be around 18 per cent. Again the GST tax structure depends on the Council. One does not know the tax structure as of now.
GST will bring in an element of certainty. Today, there is lot of uncertainty. Competition between the states will be on an even keel( once GST is introduced). Earlier, states were engaged in
ELE Times | 13 | December, 2016