Budget 2019: Lowering of GST will motivate investors

The tax reduction to 25 % for companies with annual turnover of 400 crore is a blessing for a company like Big Boy Toyz which has an average annual turnover of 250 crore. (File Image)

By Mr. Jatin Ahuja

The budget that has been introduced today is a welcoming one from the Government. The tax reduction to 25 % for companies with annual turnover of 400 crore is a blessing for a company like Big Boy Toyz which has an average annual turnover of 250 crore. It helps us save more and allows us to reinvest in the business thus giving a boost to the economy as a whole. The tax measures taken for the Electric Vehicle Segment was long overdue. The lowering of GST tax to 5% and additional income tax deduction of 1.5 lakh on interest on loans taken to purchase electric vehicles will motivate the players to invest and enter this segment more. Overall the budget has been a refreshing one to start off with.

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(The author of this article is the Founder of Big Boy Toyz (pre-owned luxury car company))

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