The government took an easier way by pegging Rental GST rates to procurement, it’s time to relook at that, if we are to promote more sustainable way of economy. Similarly while other countries and investors are promoting Marketplace model, current proposals in India are pushing back on marketplace model, by making mandatory for listed vendors irrespective of their size (20 lakh) , hence discouraging them to list.
Moreover consumer preferences have shifted as they have realised that renting can accord them access to products that would otherwise be well out of their budget, insulate them from the liability of depreciation or damage, and at a convenience that would have been impossible before the disruptive impact of technology.
Last and not least, after so much feedback and requests across board for angel tax relaxing, I hope finally action is taken on the same. While institutional investment and foreign investment is exempt, the hard earned, tax paid money from Indian angel fraternity invested into seed stage startup, is subject to tax again. We need to seriously remove the same.
(Harsh Dhand is Co-Founder and CEO, Rentsher)
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