Union Budget 2018-19: More projects, lower taxes, say SMEs
Ahead of the Budget, a survey has revealed that 87.5 % small and medium enterprises from the transport sector expect more projects to be announced such as Bharatmala road building programme, while 54 % of retail and e-commerce SMEs want a national retail policy.
The Dun & Bradstreet SAP SME Survey on the Budget expectations of SMEs across various segments also found that 43 % respondents from the metal and mining sector want the government to expand profit-linked incentives to include capital-intensive industries. However, 88 % feel the government is likely to maintain a protectionist mindset, promoting indigenous manufacturing.
According to the survey, 56 % SMEs from the automotive sector expect reduction in GST rates on ancillaries as suggested by Automotive Component Manufacturers Association of India, whereas 88 % expect encouraging steps towards Bharat Stage VI adoption.
Besides, one out of three respondents from the industrial machine components segment want nil taxation for import of capital goods for technological upgradation and environment protection.
Moreover, 50 % respondents from the chemical and pharma sectors want government to change weighted deduction provisions to 200 % for R&D in the budget.
On the professional services front, 48 % desire the benefit of presumptive taxation to be extended to …read more
