LatestOne.com, in particular stands to benefit a lot. Unlike other e-commerce platforms, we enjoy popularity beyond Tier-I cities. This will help us extend our reach further.
The corporate tax rate of 25% extended to companies with turnover of upto Rs 250 crore for FY 18-19, is a welcome move too. This should ideally leave most companies with an investible surplus to expand capacities and generate employment. However, there is another proposal in the budget that will greatly nullify this advantage.
Coming to the bits that are going to affect the industry in not-so-positive manner is the move to increase customs duty on mobile phone accessories to 15 percent. Unless we have domestic capabilities to manufacture such products that can be called world-class, we will have to continue to rely on imports. We as a start-up cannot afford to absorb this and may have to pass on the tax burden to consumers directly. This will, in the short-run at least, negatively impact business.