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Export benefit scheme being made GST-compliant: Official

IANS  |  New Delhi 

The Merchandise from Scheme (MEIS) is being redesigned to make from compliant with the proposed Goods and Services (GST), a senior official said on Wednesday.

"While manufacturing and trading activities at present times have a strong taxation orientation and the cost of logistics is high vis-a-vis the mature markets, adoption of will reduce the cost of production and distribution," Additional Commissioner, Cell, Central Board of Excise and Customs (CBEC) Neeraj Prasad said while addressing industry chamber Ficci's executive committee meeting here.

Under the MEIS, the government provides duty benefits to several products at 2 per cent, 3 per cent and 5 per cent depending upon product and destination country.

Prasad also said that would help build competitive advantage by leveraging the supply chain.

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

--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, May 17 2017. 23:30 IST
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