Rajagopalan answers readers' SME queries related to GST, export and import-matters
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
The refund claims can be filled for July-September and that would be matched with the corresponding GSTR-3B filed by the exporter
Exporters have suggested the idea of instituting an e-wallet mechanism for small and medium enterprises and complete exemption for merchant exporters - who have been hit hardest by the unavailability of working capital under the Goods and Services Tax (GST) regime.In a meeting with Finance Minister Arun Jaitley on Thursday, the Federation of Indian Export Organizations (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 preceding year's exports and an average GST rate, e currency is credited to exporters' account. Like a running account, money may be debited from the e-wallet when duty paid supplies have to be undertaken and the amount may be credited when the proof of exports is made available from ICEGATE." Fieo said in a statement to Finance Ministry officials. Exporters were earlier allowed duty-free import of goods ...
A corpus of Rs 20,000-30,000 crore is under consideration, to narrow the input tax credit cycle and facilitate their working capital requirements.
The panel is mandated to recommend to the GST Council a suitable strategy for helping the export sector in the post-GST set-up