29th September 2017
Export and Import industry has got little bit interference in their demanding to get relief from the inconvenience and problems of GST. This is the second meeting with Exporters Finance Minister in a week. It came to light in the meeting that one of the main reasons for the slowdown of the economy is the lack of export.
GST refund on behalf of industry and exporters in the meeting, demand for increasing the scope of the GST composition scheme, apart from avoiding GST return filing for six months. Exporter wants to solve the problems coming before them due to the GST's implementation.Due to non-clearance of the deadline for the refund, exporters' problems have increased with the new tariff refund notified on September 21 and their orders are being affected. It has been suggested that the period of change for the withdrawal of the tariff should be increased from 30th September, 2017 to 31st December.
Exporters of commercial commodities are struggling with serious cash crunch. Due to the difficulties in GST network, they are delayed in getting refunds. In such a situation, he should restore the rest of the money received from the finance ministry and the refund process .Warning has been received by the export of tiles, handicrafts, apparel and agricultural commodities may fall, because these sectors are dominated by exporters of commercial commodities. In the statement that the share of total export of commercial goods is 30 percent and they work only on marginally margin of two to four percent. "Because of GST, their costs have increased, especially in the case of those on whom the GST rate is high. They have to give GST on them and have to wait for a refund.
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