Post-budget 2018 Reaction Mr. Harsh Shah-Co-Founder, Fynd

Overall I think it’s a very ordinary budget. From a start-up perspective, it is slightly disappointing, as there was no clarity provided on Angel Tax, no clarity on discounts on marketing spending as CapEx or OpEx, no clarity on FDI in multi-brand e-commerce or single-brand e-commerce prerogatives.  The corporate tax rate cut of 25 percent to companies which have reported turnover of up to Rs 250 crore, is great for MSME’s. Overall for start-ups it was more of with condition apply budget, start-ups facing issue with Angel tax is not at all highlighted. Even for Retail, it was not that impactful, as GST multiple slabs still exist, governments say one market, one economy but nothing is one. We still have SGST+CGST and IGST on another side, so how can we claim it as one market.

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