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Tax relief for exporters struggling to secure refunds for six months

Central Board of Excise and Customs Chairperson Vanaja N Sarna said exporters had made errors while filing refund claims. The payments solution the authorities are mulling is an e-wallet

Dilasha Seth & Indivjal Dhasmana 

GST

The Goods and Service Tax (GST) Council on Saturday extended exemptions for exporters struggling to secure refunds for six months till end-September.

Last year, the Council had allowed the exemptions till March 31. Exporters have to pay the tax upfront and also integrated (IGST) on inputs imported for exports. The Council has decided to restore pre-tax exemptions on these.

Additionally, for merchant exporters, a special payment scheme at the rate of 1 per cent of procured goods was introduced.

Also, domestic procurement under advance authorisation, the export-promotion capital goods scheme, and export-oriented units were recognised as deemed exports, with flexibility for either the suppliers or the exporters allowed to claim and IGST refunds.

and Customs Chairperson Vanaja N Sarna said exporters had made errors while filing refund claims. The payments solution the authorities are mulling is an e-wallet.

M S Mani, senior director with Deloitte India, said, “While exporters will be relieved that a six-month extension has been given, it is necessary to expedite the e-wallet system.”

First Published: Sun, March 11 2018. 00:01 IST
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