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Extend pre-GST duty drawback rates till June, suggests Parliamentary panel

The committee also suggested that a simplified system for filing of refunds needs to be devised for the ease of doing business

IANS  |  New Delhi 

GST
GST

A parliamentary panel has suggested that the extend the duty rates for exporters prevailing prior to the roll out of the Goods and Services (GST) until June next year or till the department fixes the revised rates.

In its report on the "Impact of Goods and Services (GST) on Exports" tabled in both houses of parliament on Tuesday, the chaired by (Rajya Sabha/Akali Dal) recommended that a formal mechanism be instituted for redressing the grievances of exporters.

"In order to bring relief to the exporters, the Committee recommends that the Department of Revenue, extend the pre-duty rates till June 30, 2018, or till such time the Department works out the revised duty rates," the report said.

"The Committee hopes that this will enable the exporters to overcome the problems being faced by them currently besides helping them to take a long term perspective while negotiating export orders," it added.

Noting that the refund mechanism for exporters is "tardy and cumbersome" due to several operational issues, the committee also suggested that a simplified system for filing of refunds needs to be devised for the ease of doing business.

"Teething problems have been there and there is a feeling that what was thought as the grand idea of on the ground, the implementation has not been proper," the panel said in its report.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, December 19 2017. 21:58 IST
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