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Electronics cos want 4% sop

Associations including MAIT and Nasscom attended finance minister Smt. Nirmala Sitharaman’s pre-budget consultations and urged the government to reinstate MEIS export incentive to 4%, lower goods and services tax (GST) on entry-level mobile phones and support to local phone manufacturers. According to sources, demands were also made for allowing setoff through input tax credit (ITC) of the 5% GST levied on transport companies.

“Electronics industry exports will be highly dampened; (this will) have a negative impact on investments. Reinstating the Merchandise Exports from India Scheme (MEIS) is the need of the hour,” stated George Paul, chief executive, MAIT.