NASSCOM urges Finance Ministry to update GST for tech exports
NASSCOM is asking the Finance Ministry to update GST (Goods and Services Tax) rules that make life tricky for Indian tech companies, especially when their head offices and branches work together across borders.
Right now, these rules mean extra taxes get tacked onto services supporting overseas clients, making things more expensive and complicated.
NASSCOM seeks export inclusion and refunds
NASSCOM wants "export" to include services within the same company so tech firms can get tax breaks like they do with subsidiaries.
They are also suggesting a clear government circular and simpler refund rules based on actual export earnings, not just paperwork.
As Ashish Aggarwal, Vice President and Head of Public Policy, Nasscom, puts it, these changes are key as India steps up its game in research and development (R&D) and global tech services.