New 28% tax slab for IT hardware under GST needs to be reversed

Financial Express By FE Bureau June 7, 2017 8:20 AM

The Manufacturers Association of Information Technology (MAIT), the trade body representing the hardware industry in India, has said that the new tax slab of 28% for printers and monitors under the forthcoming GST regime needs to be reversed, and instead subjected to the current uniform rate of 18%

The industry body felt that under the new tax regime, it would only make hardware goods more expensive. (Reuters)

The Manufacturers Association of Information Technology (MAIT), the trade body representing the hardware industry in India, has said that the new tax slab of 28% for printers and monitors under the forthcoming GST regime needs to be reversed, and instead subjected to the current uniform rate of 18%. “The finance ministry immediately needs to clarify anomaly in tax slabs in printers, projectors and monitors. All of these items along with IT accessories such as data cables collectively should be taxed at 18% to make ‘Digital India’ successful,” said MAIT president Nitin Kunkolienker in a statement. The industry body felt that under the new tax regime, it would only make hardware goods more expensive.

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