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Press note export packages - GST

Goods and Services Tax - GST - Dated:- 7-10-2017 - EXPORT PACKAGE GST PRESS BRIEF The GST Council under Chairmanship of Union Finance Minister Shri Arun Jaitley has in its 22nd Meeting held at Delhi on 6th October, 2017 approved a major relief packag .....

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h Adhia to recommend suitable strategies for helping this sector. This Committee had five senior Government functionaries from the Centre and an equal number from the States as members. 3. After wide ranging discussions with major Export Promotion Co .....

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ng the export sector are on account of delays in refunds of IGST and input taxes on exports and working capital blockage as exporters have to upfront pay GST on inputs and capital goods for export production or for procuring goods for export. Another .....

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support the exporting community, which earns valuable foreign exchange and provides significant employment especially in the small and medium sector. Accordingly, the Council approved the following package of relief and incentives for exporters with .....

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ld be handled expeditiously. Other refunds of IGST paid on supplies to SEZs and of inputs taxes on exports under Bond/LUT, shall be processed from 18.10.2017 onwards. For this, the Council agreed to suitably empower Central and State GST officers so .....

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relief and the other for providing long term support to exporters. Immediate relief is being given by extending the Advance Authorization (AA) / Export Promotion Capital Goods (EPCG) / 100% EOU schemes to sourcing inputs etc. from abroad as well as .....

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on such supplies given to the supplier. c. Merchant exporters will now have to pay nominal GST of 0.1% for procuring goods from domestic suppliers for export. The details would be released soon. d. The permanent solution to cash blockage is that of e .....

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