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Indian Exporters to Become Competitive After GST: Nirmala Sitharaman
May 25, 2017
The GST scheme, that will curb the complicated and damaging cascading effect of taxes and also introduce an input tax credit system, is expected to make the Indian exporters more competitive after implementation, as opined by commerce and industry minister Nirmala Sitharaman.
Under the GST regime, the exporters will be able to receive their duty refunds faster, as the council has decided to clear 90% of the refunds within the same week of acknowledging the applications. It is also emphasized that the exports should not attract any taxes. Thus, while an exporter has to pay duty at the time of the transaction, he can claim a refund afterward.
