Telecom And Metal Industry Asked For Concessions In Budget

January 15, 2022 daknewsnetwork

Telecom and metal industry asked for these concessions in budget 2022, it is important to know.

Telecom companies have demanded a refund of input tax credit (ITC) of about Rs 35,000 crore, reduction in charges on license and spectrum usage, and removal of GST in the upcoming budget.

The Cellular Operators Association of India (COAI), an organization of the telecom industry.

COAI demand submitted to the government regarding the budget has said that the government should suspend the USOF formed to spread telecom services in rural areas.

It says that by doing this the burden on the service providers will be reduced.

Apart from this, telecom companies have demanded a refund of unutilized ITC of Rs 35,000 crore, saying that this fund cannot be used in the near future also.

COAI Director General SP Kochhar has sought a reduction in license fees and spectrum usage charges, saying companies need to invest more to meet the growing demand for connectivity, and reducing the fee burden will help them.

Telecom service providers have urged the government to reduce the license fee from three percent to one percent and spectrum usage charges by three percent.

The government has been suggested removing customs duty on copper concentrate in the upcoming Union Budget to encourage manufacturing of value-added products by domestic companies.

Industry body PHD Chamber of Commerce and Industry (PHDCCI) said that failing to do so would increase imports of these products under free trade agreements.

Telecom and Metal Industry asked for concessions: The customs duty on copper concentrate is 2.5 percent.

The industry body also advocated raising basic customs duty on refined copper products, copper cathode from five percent to 7.5 percent.

The industry body, in its pre-budget recommendations, said strict norms for scrap recycling are necessary to avoid becoming a stockpile of metal scrap so that an eco-friendly process is followed.

In addition, the industry body suggested the imposition of a 10 percent standard customs duty on imports of paper and paperboards from ASEAN, South Korea, and China.