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Govt. Considering Major Ammendments For GST Retuns Process in the Interest of MSME Exporters

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The Centre is considering to roll out certain concessions in rates and allowing additional input tax credits to exporters, to help them get rid of the adverse impacts of goods and services tax (GST), a news report said.

The sectors under consideration for such concessions may include handicrafts, apparel and carpet sectors, added the report.

It also said the measures may include a likely reduction of rates on finished carpets and expanding the list of duty-free imports of essential embellishment to make them competitive in the international market.

The government recently launched a second ‘Special drive Refund Fortnight’ spanning from 31st May 2018 to 14th June.

Refund claims to the tune of Rs 14,000 crore (Rs.7,000 crore on the IGST side and Rs 7,000 crore on account of ITC) are pending with the Government as on date, as against the figure of Rs 20,000 crore projected by exporters’ body FIEO. 

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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