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Drone startups believe the Goods and Services Tax (GST) rate cut would leave them with surplus funds to invest in research and development (R&D) to make their products world-class. The policy push on the GST front will help boost sales, make drones affordable to small and medium farmers, and promote higher investments in the ecosystem, they said.
The GST Council on Wednesday slashed the GST rates across a range of products, including unmanned aerial vehicles (UAVs). Commercial drones will now attract a lower levy of 5%, compared to the earlier 18%….
