MoD to fully reimburse 18% GST on R&D grants, bringing relief to defence startups

More than a year after businessline wrote about the government taxing innovation, the Ministry of Defence (MoD) has finally settled the anomaly in grants to industry and institutions for research and development (R&D) of military products. The MoD issued an office memorandum on July 27, clarifying that the full 18 per cent GST will be reimbursed to entities receiving grants for defence product…