Policy▲ Bullish for Indian equities
GST Council may allow export tag for overseas contract manufacturing
The brief
- GST Council proposal would treat overseas contract manufacturing as exports even when finished goods stay in India
- The proposed tax treatment could benefit Indian contract manufacturers serving overseas clients
- Frequent GST rate tinkering to make way for annual changes
- GST Council may consider ITC relief for realty, construction, hospitality
- GST Council may widen ITC on business vehicles, ease interstate checks
- GST Council likely to align export definition with forex earnings, clarify on overseas branch services
- GST Council meet: Decriminalisation, export relief for GCCs top on the agenda