Help Us by Clearing All Past Dues, IT Tells Govt
Nasscom study says centre, state govts owe ₹. 5,000cr to industry
New Delhi: The Indian IT industry has asked to government to release payments, running into thousands of crores, owed to it over the
The dues span refunds with various departments such as Income Tax and Customs as well as money from central and state governments for various technology projects. The move comes as the industry is facing liquidity constraints due to the Covid-19 outbreak that has led to the ongoing nationwide lockdown. According to a study by industry lobby group Nasscom in 2017, the central government as well as several state governments and public sector undertakings owed close to `5,000 crore to the IT industry for just technology projects.
Industry experts, however, said the actual outstanding could be much higher. Nasscom has in fact taken up a survey of its member firms to arrive at a fresh estimate.
There are close to 16,500 IT companies with a turnover of `250 crore for whom refunds are critical for survival. The IT Industry Dues and Outstanding Payment Survey will
try to collate data from a large number of companies on all outstanding payments, said Gaurav Hazra, senior director – India Markets – at Nasscom. “Once we have data about the outstanding across various government departments, states and PSUs, we will reach out to stakeholders where the bulk of the payments are stuck,” Hazra said.