SME Times is powered by   
Search News
Just in:   • Trump's first economic report predicts stronger economy  • US dollar rises after Fed minutes  • CBI questioning enters 4th day in Rotomac case  • US stocks close lower after Fed minutes  • PNB fraud: ED seizes luxury cars, more assets of Modi, Choksi 
Last updated: 16 Oct, 2017  

gst-new-thmb.jpg 'Centre working on mechanism to speed up GST refund for exporters'

GST.9.jpg
   Top Stories
» RBI sees brighter prospects for export sector
» Exporters' body hails MEIS based on HS Code
» 'Govt adopting new technologies to boost housing sector'
» Two-day brainstorming session on WTO conference held
» UP in path of growth, Modi says at investors' summit
SME Times News Bureau | 16 Oct, 2017
The central government is working on mechanisms to further speed up the GST refund process for exporters, a minister said on Sunday.

"We are evolving a mechanism. We are trying to further reduce time for refunds," Minister of State for Commerce & Industry C.R. Chaudhary told the media in New Delhi on the sidelines of the inaugural session of the 186th AGM of the Calcutta Chamber of Commerce.

In a relief to exporters, the government recently announced that it would immediately refund exporters for the month of July and August through cheques from October 10 and October 18, respectively.

Following a GST Council meeting, Union Finance Minister Arun Jaitley told reporters that this would be an interim relief, and as a long term measure e-wallets will be created for all exporters by April 1, 2018, to carry forward the refund process.

Chaudhary said large scale reforms like GST will often lead to hiccups and inconvenience during inception but it will be beneficial in the long run.

"Rise in export data for September shows that initial hiccups of GST roll out is stabilising," he added.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 22 Feb, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(20)
» New MSME definition(10)
» Exports: Time for govt to step in(4)
» New MSME definition to help textile manufacturing: Minister(4)
» New Startup India framework launched(3)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter