New Delhi, April 7 (KNN) The burgeoning e-commerce sector of India which is showing a near 34% growth rate, has got no incentive in the Budget for 2015-16.
 
Measures proposed on taxation or start-ups may benefit online retailers, but there were no sector-specific measures for the sector. Sectors that made it to the budget over e-commerce were leather footwear, which received a reduction in excise duty; incense sticks, which received some exemptions from excise duty; yoga, which was included in the ambit of charitable purpose; and gutkha, which saw an increase in excise.
 
The one announcement that brought cheer to e-tailers was the government's commitment to rolling out the goods and services tax (GST) from April 1, 2016. This will bring some respite to an industry that has been battling archaic tax laws.
 
'The assurance to speed up GST is a welcome announcement for the industry as it will boost the country's manufacturing competitiveness and the budget has reinforced the government's progressive and liberal stance that will fuel growth and global investors' sentiment for India, according to one Industry expert.
 
However, added the decision to raise the service tax to 14 per cent could be a damper for e-commerce. Some experts raised concerns over the fact that the GST rollout had been delayed by several years. (KNN/DB)