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EEPC calls for faster clearance of GST refunds

IANS  |  Kolkata 

Hailing the Union Commerce Ministry for the mid-term review of the Foreign Trade Policy, the Engineering Export Promotion Council (EEPC) on Wednesday called for faster clearance of the refunds of the Goods and Services (GST).

In the pre-budget consultations with Finance Minister Arun Jaitley, the council pointed out that the backlog of exporters' refunds under "stays quite high" majorly affecting the financial health of the SMEs, despite a large number of changes and notifications to resolve the issue.

"Exporters are pleased to find that the cutting cost and time of transactions form key priorities of the government with the steps like better trade facilitation but we would urge the to ensure the refunds are done at the earliest," EEPC Chairman T.S. Bhasin said in a statement.

He said steps like freeing of refurbished goods would help the MSMEs in the export sector.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 06 2017. 19:46 IST
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