Tweak GST rules or exports will suffer: Industry tells Adhia

Trade & industry bodies have warned that slowdown in orders, liquidity crisis may lead to Rs 65,00 cr of exports getting stuck

A severe slowdown in foreign orders, combined with a growing liquidity crisis, may get out of hand by the year-end if rules of export under the goods and services tax (GST) regime are not altered soon, industry bodies have warned.

At a meeting with Revenue Secretary Hasmukh Adhia-led GST committee - set up to look into exporter concerns on Tuesday - trade and industry bodies pointed out that the deferment in mandatory filing of GST return forms as well as extreme difficulty in receiving tax returns was hurting exports, sources present said.

This may lead to a Rs 65,000-crore worth