Supply of goods and services to units registered under STPI should be GST exempted. Entities registered as STPI units have fueled the economy for almost a decade by bringing in convertible foreign exchange into India and have proved themselves as partners the nation building. Though there are schemes supporting the STPI units, claiming GST/Service tax refunds for the unutilized credit is not an easy task. Amendments in the Law exempting levy of GST on services rendered to STPI would enable release of unwarranted pressure created on the working capital.
@Technuter.com News Service