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