Corporate tax

15% tax: contract manufacturing eligible for benefit

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"Based on the existing provisions under the Income Tax Act and various judicial decisions, guidance is available as to which activities and processes would constitute manufacture. Still, some of the issues surrounding job work and contract manufacturing should be clarified to help various stakeholders take an informed decision."

Vikas Vasal
Partner, Grant Thornton India LLP

This article appeared in Economic Times on 30th Sep, 2019.