Deal of the day : Realme 7 Pro available at discounted price
With 6 GB RAM and 128 GB storage and 5% off with Amazon Pay on all bank debit/credit cards
Click here to know moreAdvertisements
Apple will not be receiving any tax breaks and concessions under the indirect tax imposition of GST, reported PTI. This is due to the fact that the government is pushing its efforts for Make in India initiative, instead of importing goods and products.
“With the Goods and Services Tax (GST) in place, giving separate exemptions to anyone is not possible,” the source of the report said. GST was rolled out on July 1 and it implements a uniform four-tier structure on goods and services across the country. It also does away with exemptions, which Apple had sought for setting up its manufacturing plant in India.
The Cupertino based company had asked the government for a 15-year tax exemption on import of components and other equipments and to wave off the 30 percent local sourcing norms for setting up its own retail stores.