Budget 2016 – Here’s what India’s Telecom Sector wants urgently
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India is currently the second-largest telecommunications market in the world. The large scale influx of Chinese smartphone makers offering affordable smartphones have ensured consistent growth in the sector. The government has also been pushing constructive reforms in the sector.The GST is away. That aside, here are the 3 key concerns the telecom industry has for the upcoming Budget 2016.
1.
Imagine CENVAT Credit like a credit balance in bank account that can be adjusted towards the excise duty payable. There are disputes over availability of credits on passive infrastructure. The industry demands steps to rationalize and broad-base input credit scheme to make indigenous services competitive against imports. Restricted credits on Swachh Bharat Cess are also inflating output costs. That needs to be taken care of.
2. Education Cess credit: Use of input credit in Education Cess (EC) and Secondary and Higher Education Cess (SHEC) has been restricted to limited cases. The industry wants the government to allow them to use their entire EC/SHEC balance.
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3. Clarity: The sector would also love some clarity on tax implications linked to big telecom payments. These include clarifying dispute related to discounts, tax deductibility of spectrum payments, withholding tax implications on telecom infrastructure services and so on.
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