“The Department of Revenue has said no to the tax incentive demand of US-based iPhone maker Apple, which wants to set up a manufacturing unit in the country,” Press Trust of India reports.
“In a communication to the government, the Cupertino-based technology major has asked for incentives from the Department of Revenue and Department of Electronics and Information Technology (DeITy),” PTI reports. “Besides exemption from the Customs duty on imports of components and equipment for 15 years, Apple wants relaxation in the mandated 30 percent local sourcing of components.
PTI reports, “Apple had earlier indicated to the government that it is ready with a blueprint to begin manufacturing iPhones in India, but wants fiscal concessions, including Customs duty waiver on import of components.”
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