Space companies seek GST exemption, tax holiday
The Delhi-based group also said that a clarity on foreign direct investment (FDI) policy space sector, introducing production linked incentive (PLI) scheme for space-grade components and adopting space tech solutions across domains like agriculture and d management.
NEW DELHI: Indian Space Association (Ispa) has sought GST exemption for satellite companies and providing tax holiday in the Union Budget 2024-25 with a focus on enhancing the financial well-being of the industry.
“Expand GST exemption to satellites, launch vehicles and ground equipment manufacturing. Plus, similar exemption on procurement of key inputs. Provide tax holidays and exemptions for space sector firms. Concession on customs duties for notified imports,” the industry group in a statement said.
The Delhi-based group also said that a clarity on foreign direct investment (FDI) policy for the space sector, introducing production linked incentive (PLI) scheme for space-grade components and adopting space tech solutions across domains like agriculture and disaster management.
