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Tax Exemption Meeting of GST Council for Exporters

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Tax Exemption Meeting of GST Council for Exporters

26th Meeting of the GST Council to decide on the exemption for exporters for further siz months. this meeting has resulted after observing a displeasure of the GST mainly among the exporters in Inda, post deployment of GST

The GST Council in its 26thmeeting held here today decided to extend the available tax exemptions on imported goods for a further 6 months beyond 31.03.2018. Thus, exporters presently availing various export promotion schemes can now continue to avail such exemptions on their imports upto 01.10.2018, by which time an e-Wallet scheme is expected to be in place to continue the benefits in future.

The progress in the grant of refunds of Both IGST and tax credit was keenly previewed, the council also has acknowledged, the pace of refund of IGST to the exporters have gained. Furthermore the Council directed GSTN to expeditiously forward the balance refund claims to the Customs/Central GST/State GST authorities, as the case may be, for their immediate sanction and disbursal.

On 16.12.2017, Finance Secretary constituted a Working Group with representatives of Central and State Governments to operationalize the e-Wallet scheme. After reviewing the progress, the Council noted that whereas some preparatory work had been done, more needs to be done to address a large number of technical, legal and administrative issues that have been identified. The Council appreciated that this would require more time. The Council was also unanimous that there should be no disruption that may affect the exports. Accordingly, the Councilagreed to:

  • Defer the implementation of the e-Wallet scheme by 6 months i.e., upto 01.10.2018; and
  • Extend the present dispensation in terms of exemptions etc. which is available up to 31.03.2018, for a further 6 months i.e., upto 01.10.2018.

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