IT Ministry urges tax incentives for PC manufacturers too

Posted on:31 Jan 2017 18:02:09
IT Ministry urges tax incentives for PC manufacturers too
31 January 2017 Current Affairs: The Ministry of Electronics and Information Technology (MeitY) in its key recommendations for Union Budget 2017-18, has suggested differential excise duty regime and tax exemptions to be expanded to personal computers and servers. Ministry’s suggestions were as per the Phased Manufacturing Roadmap, it had worked out in consultation with the NITI Aayog.

Retain differential excise duty regime and tax exemptions granted for the manufacture of mobile handsets and tablets, under the impending GST regime, to boost domestic manufacturing of electronic products. 

The current differential duty makes imports of mobile handsets more expensive compared with making them locally, encouraging smartphone players to set up manufacturing units in India. Specified capital goods for the manufacture of electronic goods be exempted from basic customs duty and countervailing duties to increase the competitiveness of the Indian electronics Industry. Specified key raw materials and inputs for the boosting manufacture of LCD and LED panels should be permitted at 0% customs duty. Extension of income tax benefit for research and development (R&D) to software products and the chip design industry. The proposal is expected to boost the generation of intellectual property in the country.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 May

24 MAY
NEWS
23 MAY
NEWS
22 MAY
NEWS
21 MAY
NEWS

Current Affairs 2018 April

30 APRIL
NEWS
29 APRIL
NEWS
28 APRIL
NEWS
27 APRIL
NEWS

Current Affairs 2018 March

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS