❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗ R&D, Logistics

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D👑Queen: And Research and Development?
⚖Advocate VV: There was some disappointment in research-oriented companies. The FM in his phasing out of exemptions also laid out roadmap to reduce and eventually do away with "weighted deductions" for R&D expenditure which is key a deduction for most research companies (ranging from 150 to 300% based on industry) 😞
The logistics sector was also disappointed👎 with the FM in the name of discouraging imports announced imposition of 14% service tax on services provided by domestic shipping companies transporting goods outside 🇮🇳 from 1 June 2016. Shipping companies will be affected but will likely pass on the cost to us comsumers❗ I feel one bright spot☀ though was the zero rating (with effect from 1st March 2016) of services provided by 🇮🇳 shipping lines by way of transport of goods by a vessel to outside 🇮🇳