IT sector meets Jaitley, raises policy measures-GST revisions for consideration in upcoming budget

New Delhi, Dec 12 (KNN) Raising demands of the IT sector with regard to the upcoming budget 2018-19, stakeholders from IT sector including representatives of different IT firms met the finance minister as a part of the pre-budgetary talks.

Ministry of Finance in a press release informed about the meeting and proceedings.

The participating representatives informed the finance Minister regarding that India’s competence in IT-Software is recognized globally in recent times.

Also India is emerging well in terms of software development and information technology enabled services (ITeS) including business process outsourcing and knowledge process outsourcing services industry, the representatives added.

Urging support from the government’s end, the participants said that some recent protectionist and discriminatory policies are being followed by other countries leaving an uneven playfield for the Indian companies.

The sector urged government’s help at Policy level to ensure combat visa restrictions issues as also to ensure the economic interests. The sector further urged that in line with steps taken in previous budget, the government should consider promoting indigenous manufacturing of electronic goods.

The IT sector also called out for more steps to include rationalization of the tariff structure with extension of differential excise duty dispensation to mobile handsets/ tablet computers and other specified electronic equipment. Also the government should take into account the need Promoting Broadband and internet in the upcoming budget.

GST on Telecom services should be made 12 per cent instead of 18 per cent. Also there is an imperative need to promote components hub for the sector to grow, the delegation added. (With PIB Inputs) (KNN/DA)