Budget 2018: Information technology, electronics industry seek tax rationalisation

New Delhi: Software industry, under the aegis of Nasscom, on Monday sought a resolution of the issues related to service tax refunds and GST during the pre- budget meeting with Finance Minister Arun Jaitley. “We discussed issues related to Place of Effective Management (POEM), service tax, and tax refunds,” Nasscom President R Chandrashekhar told reporters after the meeting. [caption id=“attachment_4253553” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] The software industry, along with other IT associations like ELCINA (Electronic Industries Association of India), MAIT (Manufacturers’ Association for Information Technology) and TEMA (Telecom Equipment Manufacturers Association of India) also met the ministry as part of the discussions. IT and electronics components industry sought imposition of duty on those technology and telecom products which fall outside the purview of IT Agreement signed by India. Such a move would boost domestic IT and Telecom manufacturing in the country, industry officials said. Jaitley is gearing up to present the Union Budget 2018-19, possibly on 1 February. For full coverage of Union Budget 2018 click here.