Apple Inc's demands for tax exemptions to set up a manufacturing unit in India have been deferred by the Union Finance Ministry, PTI reports. In a written reply to the Lok Sabha, the Minister of State for Electronics and IT, PP Chaudhary claims, the exemptions cannot be accepted, as with the coming into force of the new indirect tax regime "all imports will be liable to IGST (integrated GST) and any exemptions from CGST (centre)/SGST (state)/IGST can be granted based on the recommendations of the GST Council only.” All existing exemptions from excise duty to countervailing duty will also be reviewed by the GST Council, he added. In effect, the minister's reply suggests the decision to give exemptions will have to be taken up by the Goods and Services Tax (GST) council. There is no exemption from basic customs duty, countervailing duty and special additional…
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