The estimated Rs 5500 crore capital good leasing sector growing at 15-20 per cent may get tapered due to high Goods and Services Tax (GST) along with few other issues.
"The GST rate of 28 per cent is high for the leasing industry when compared to the earlier five to 15 per cent tax burden. Higher GST rates lead to requirement of higher working capital at any point of time. This results in increasing the cost of leasing an equipment," Finance Industry Development Council director general Mahesh Thakkar told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)