Topics In Demand
Notification
New

No notification found.

GST Submission: Suggestions with respect to the GST on COVID-19 related relief; ease of doing business issues for IT-ITES Industry
GST Submission: Suggestions with respect to the GST on COVID-19 related relief; ease of doing business issues for IT-ITES Industry

May 19, 2021

134

0


Listen to this article



Based on inputs from Industry, NASSCOM has submitted a detailed memorandum of suggestions with respect to the Goods and Services Tax (GST) to enable growth and ease of doing business for the Information Technology (IT) - Business Process Management (BPM)/ IT enabled Services (ITeS) Industry. The document has been submitted to key GST officials in Ministry of Finance and members of GST Council.  

Our recommendation towards strengthening the pandemic relief effort pertains to removal of disparity between free of cost import for COVID relief vis-à-vis imports made on payment of consideration for COVID relief, though the objective may be the same, i.e., goods are imported for free distribution in India and the agency importing is authorised by a State Government.

The IT-ITeS industry memorandum highlights issues requiring urgent intervention from the government, measures to unlock working capital locked in accumulated Input Tax Credits (ITC), ease ITC restrictions and refund related issues, amongst others.

Implementing these measures would significantly improve ease of doing business.

The detailed GST memorandum is attached for your kind reference.


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


Download Attachment

202105_NASSCOM_IT-ITESindustry_GSTMemorandum.pdf

Tejasvi

© Copyright nasscom. All Rights Reserved.