Indian Tech Firms Seek Clarity on GST, Taxes at Budget

Nasscom has also urged the government to renegotiate tax treaties, ensure cross border transfer pricing adjustments, introduce consolidated income tax filing for Indian MNCs for easing compliance for the industry and government, revisit notified safe harbours and clarify to bring in certainty in transfer pricing assessments.

"Nasscom requests the government to clarify the royalty implication on software (both retrospective and on services), eliminate MAT on SEZ, and take steps to minimise litigations," it added.

The industry body has also recommended launching an India Technology Entrepreneurship Mission (ITEM) to provide a supportive framework to technology startups and SMEs.

Consumer Electronics and Appliances Manufacturers Association (CEAMA) has urged the government for rapid implementation of GST in order to decrease compliance burden for businesses as well as reduce paper work while making tax system simpler and transparent.

It has also asked for removal of inverted duty structure on consumer electronics products and appliances, which is making the Indian manufacturing sector uncompetitive.