News > Deloitte India pushes for 2-year extension on concessional tax for new manufacturers

Deloitte India pushes for 2-year extension on concessional tax for new manufacturers

In 2019, the regime of concessional corporate tax rate of 15 per cent was introduced for domestic manufacturing companies registered on or after October 1, 2019, and which commenced manufacturing or production on or before March 31, 2023. The Finance Act 2022 extended this sunset date to March 31, 2024. There was a substantial increase in FDI from ₹89,766 crore in FY 2020-21 to ₹1,58,332 crore in FY 2021-22, reflecting a 76 per cent jump.