Institute e-wallet for SMEs, exempt exporters from GST: Traders to govt

Exporters remain concerned over scarce working capital under the new tax regime

Exporters have suggested the idea of instituting an e-wallet mechanism for small and medium enterprises (SMEs) and complete exemption for merchant exporters, who have been hit by an unavailability of working capital in the goods and services tax (GST) regime.

In a meeting with Finance Minister Arun Jaitley on Thursday, the Federation of Indian Export Organisations (FIEO) said the system may be instituted since a significant number of firms are still disproportionately affected by a capital crunch.

"Government may consider introduction of e-wallet for exporters in which, based on the preceding year’s exports and an average GST rate, e-currency is credited to