Extend pre-GST duty drawback rates till June: Parliamentary Panel

Posted by Daily Shipping Times on 21-12-2017        Tweet

Panel also suggested a simplified system for filing of refunds needs to be devised in line with Ease of Doing Business

NEW DELHI: A parliamentary panel has suggested the Government to extend the pre-GST duty drawback rates until June next year or till the Revenue Department comes out with the revised rates for exporters.

In its report on the 'Impact of Goods and Services Tax (GST) on Exports' placed in Parliament, the Standing Committee on Commerce Chaired by Mr. Naresh Gujral recommended that a formal mechanism for grievance redressal of exporters must be put in place.

"In order to bring relief to the exporters, the Committee recommends that the Department of Revenue, Ministry of Finance extend the pre-GST duty drawback rates till June 30, 2018 or till such time the Department works out the revised duty drawback rates.

"The Committee hopes that this will enable the exporters to overcome the problems being faced by them currently besides helping them to take a long term perspective while negotiating export orders," said the panel in the report.

Goods and Services Tax (GST) refund mechanism for exporters is tardy and cumbersome owing to several operational issues, it added.

The panel also suggested that a simplified system for filing of refunds needs to be devised which is in line with the Ease of Doing Business.