Comments
The implementation of GST -- a new era in tax reforms -- would impart much needed competitiveness to Indian exports but there will be initial hiccups, says Ganesh Kumar Gupta, President, Federation of Indian Export Organisations (FIEO).
According to him, the spin-off effect on the economy, particularly on the logistics sector, would also help both manufacturing and exports.
"The refund mechanism through an electronic platform will help reduce transaction costs," he said.
Initial hiccups
In the initial stages, exporters will have to bear the blockage of their working capital and, therefore, the refund mechanism should be efficient in line with the spirit of the Act, Gupta pointed
However, he expressed optimism that the Government will soon consider giving IGST exemption to various duty neutralisation instruments under the Foreign Trade Policy, besides exemption on procurement of goods for export by merchant exporters.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.