Sushil Motwani, Founder of Aytexcel Pvt. Ltd
While the increased income tax ceiling in the Union Budget provides relief to the common man, the high duty and GST rates charged to importers remain unchanged, which, according to major importers, is a significant disappointment. Stating that they were expecting a major GST relaxation for premium products, Sushil Motwani, Founder of Aytexcel Pvt. Ltd, and the official India Representative for Formovie projectors, says their demands were overlooked, despite importers being major contributors to GST collections.
“While the government anticipates higher GST collections, businesses that contribute the most through high GST rates often face pressure from customers to reduce these charges. Due to these high rates, many premium products, particularly items like projectors, cannot be sold at competitive prices compared to the global market. That is why we have been advocating for a reduction in GST from 28 per cent to 18 per cent,” says Mr Motwani.