GST to make exports more competitive, says Nirmala Sitharaman

Posted by Daily Shipping Times on 27-03-2017        Tweet

NEW DELHI: Implementation of GST, the new indirect tax regime, would help remove barriers between the States and make exports more competitive, Commerce and Industry Minister Nirmala Sitharaman said. "GST (Goods and Services Tax) gives a feeling that market in India is one now and there are no barriers between regions or provinces.

"Even within the Country, the value chains which will get integrated, will have a simpler and straightforward flow (of goods) and therefore, it should make exports more competitive rather than expensive," she said.

Finance Minister Arun Jaitley has indicated that GST would be rolled out from July 1. The new tax regime would subsume all indirect taxes like excise duty, sales tax and octroi.