PwC recommends extension of beneficial tax regime for new manufacturing cos

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PwC recommends extension of beneficial tax regime for new manufacturing cos - Business Standard

Quick Summary:

"I think that is one extension, which is being expected, and the expectation is also that instead of giving a year-on-year extension if we can look at the block period, say for the next five years because shifting a manufacturing is a big decision and the corporates may take time before making a decision and make it viable, feasible and that's the first bit," said Sandeep Puri, Partner, Price Waterhouse & Co LLP.

Tax consultancy firm PWC has urged Finance Minister Nirmala Sitharman to extend the beneficial tax regime for new manufacturing companies and introduce a comprehensive tax amnesty scheme for cases related to Customs.

Sitharaman is scheduled to present the Union Budget for 2024-25 on July 23.