Telecom companies pay as much as 30 per cent of revenue in the form of various taxes and levies, compared to that in neighbouring countries where it is just over 5 per cent of revenues to cover duties. The finance minister’s offer in the Union Budget 2013 to reduce the overall duty will help local telecom firms which are facing pressure on profitability due to intense competition. However, most of the demands from the telecom industry haven’t fulfilled in the current budget. If the sector is granted infrastructure status, telecommunication companies will be able to raise funds on simple terms with added tax benefits. Mobile phone companies and the department of telecommunications wanted Finance Minister to address a slew of long-pending demands.
FlashNews:
Trimble MD champions digital solutions for industry growth at RAHSTA
Vipin Sondhi: Indian infra booms with road construction opportunities
RK Pandey promotes safe road development at RAHSTA launch
RAHSTA to pave the way for innovation in road construction: AK Singh, NHAI
Road construction leaders launch RAHSTA Expo 2024 in Delhi
Road construction industry launches RAHSTA Expo 2024 in Delhi
Road construction industry to launch RAHSTA Expo 2024
Shapoorji Pallonji divests Gopalpur port for Rs 33.5 bn
15th Cement EXPO to be held in March 2025 in Hyderabad
IIFCL raises Rs 1,500 crore through bonds/debentures
Metro Rail sustainability suffering from affordability & connectivity
Dr E Sreedharan, India’s ‘Metro Man’ & India’s Top Metro Rail CEOs converge in Mumbai for CW Metro Rail Conference
Road Contracts awarded drop to less than half!
Synergy Steels clinches Award for Best Environment & Pollution Control Practices, 2023
Will QCBS phase out L1 for Infrastructure Procurement?
Noida Airport to soon link with rail routes
E-Mobility: Delhi to roll out 500 low-floor electric buses
First phase of Dholera Smart City nearly completed
PM Modi launches Varanasi Smart City website
Home » Duty reduction to help local telecom firms
Leave a Reply
You must be logged in to post a comment.