From IT industry perspective & from my perspective, as an IT entrepreneur, this budget is average one.
Especially STPI scheme is extended only for 1 year, expectations were for min. extension for next 3 year. In absence of long term policy, many SME’s cannot plan for strategic initiatives. Larger IT companies already opting for SEZ. MAT increase by 5% also will put additional stress on liquidity.
A) Fringe Benefit Tax (FBT) abolishment B) Exempt value attributable to the transfer of the right to use packaged software from excise duty and CVD C) Service tax refund mechanism based […]