The government must consider reducing tax rates on consumer electronics and ensuring a stable GST tax plate in the 2022-23 Union budget because this will encourage consumers to buy ASP products (average sales average) and stabilize the sector shaken by pandemics, industrial players said the union budget 2022-23.
Stressing that this industry requires a stable GST tax plate to encourage the manufacturing and MSME sector, Avneet Singh Marwah, CEO, Super Plastronics PVT Ltd (SPPL), Kodak brand license, said that electronic products should not exceed the 1 percent slab.
“India can be the third largest market in the world for television, which leads to a 15 percent growth forecast in market size, an increase of up to 16 million units every year.
We want to urge the government not to change import duties, as this industry moves towards stable conditions,” he said.
The Indian Cellular & Electronic Association (ICEA) also recommends the reduction in the GST level on color television, which, at 28 percent for television above 32 inches (and 18 percent otherwise), cannot be explained high.
“We emphasize that the 43-inch model is now considered average for the Indian market.
We will recommend a standard GST level of 18 percent for all television devices.
The Great Gray Market has increased.
Each income loss will be more than made through increased production, sales , and the gray market is reduced, “he said in a paper, titled ‘Main Recommendation for Union Budget 2022-23.’ “The GST level is very high (28 percent) strangling the industry.
Therefore, we request that the level of GST is rationalized to 18 percent for both fixed air conditioners and inverter-based air conditioners,” added ICEA.
Forging a government to introduce PLI $ 10 billion (performance-related schemes) for the display panel and semiconductor chip, they said that they would also ask the Minister of Finance Nirmala Sitharaman to have a fixed line for these projects.
Pallavi Singh, Vice President, SPPL, Indian brand license from Westinghouse TV, said that remembering the current lack of semiconductors in the world, the government must help the potential sector and buy a scheme under the 2019 National Electronic Policy (NEP) 2019.
“Those who aim to produce in India and contributing to economic growth can be given assistance in the form of subsidies.
NPE can also be expanded to include and help those who have produced consumer electronics in India as opposed to them, “he said.
Because there are no open cell producers in India and the eligibility of plant regulation far from certain, the Indian government must consider this and reduce import duties in open cells to 0 percent from 5 percent today, namely industrial players demanding.
They demanded that with a pandemic that caused a big hit to the retail sector, the government had to introduce the scheme and price discounts to help rebuild this sector.
“The government must fund schemes for technology adoption, and government purchases from top-class IT products must be encouraged / prioritized to help create more requests,” said Sandeep Lodha, Co-Founder on Netweb Technologies.
“There must be special incentives for companies investing in R & D and there must be government incentives and collaboration facilitated between the company and R & D facilities,” Lodha added.