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Govt re-designing export benefit scheme to make it GST-compliant: Official

Prasad said the GST regime would help build competitive advantage by leveraging supply chain

Press Trust of India  |  New Delhi 

Govt re-designing export benefit scheme to make it GST-compliant: Official

The government is re-designing the Merchandise from India Scheme (MEIS) to make it goods and services tax (GST)-compliant, a senior official said on Wednesday.

Neeraj Prasad, Additional Commissioner, Cell, (CBEC) also said that the issue of working capital requirements under the new tax regime is being deliberated upon by the government.


He said this while addressing Ficci's Executive Committee Meeting in New Delhi.

Under the MEIS, the commerce ministry gives duty benefits to several products. It provides duty benefits at 2 per cent, 3 per cent and 5 per cent depending upon the product and country.

Prasad said that the regime would help build competitive advantage by leveraging

"While manufacturing and trading activities at present times have a strong taxation orientation and the cost of is high vis-a-vis the mature markets, adoption of will reduce the cost of production and distribution," he added.

Prasad added that technology in logistics, such as the use of advanced telematics, real-time vehicle tracking and route planning are likely to help manage and execute operations in an efficient and seamless manner.

Speaking at the event, Harsh Mariwala, Chairman Ficci's Task Force on said the chamber will be conducting three- day workshops on compliance for industry.

would conduct training sessions for trade and industry starting from the first week of June.

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