The groups will also focus on export promotion and facilitation (Mint)
The groups will also focus on export promotion and facilitation (Mint)

CBIC sets up working groups to promote exports

  • The working groups will focus on improving the legislative structure of customs tariff and update it to suit the needs of the economy
  • The groups will submit their report within two months

New Delhi: The Central Board of Indirect Taxes and Customs (CBIC) has constituted three working groups to study and recommend measures to facilitate trade, promote exports and improve compliance. The groups will submit their report within two months.

"The recommendations of the groups, which will be taken up for implementation on priority, will further enhance the ease of doing business and export competitiveness. CBIC will use advanced data analytics tools for augmenting revenue and curbing frauds," CBIC chairman Pranab Kumar Das said.

The working groups will focus on improving the legislative structure of customs tariff and update it to suit the emerging and future needs of the economy and industry. Special focus will be given to create a comprehensive export tariff structure to enhance India's export competitiveness.

The groups will also focus on export promotion and facilitation with emphasis on boosting exports through e-commerce, addressing trade facilitation barriers faced in India's export markets and improving the quality of logistics services for exporters, besides enhancing compliance, plugging loopholes to improve revenue collection on customs and curb IGST refund frauds.

The groups will consult stakeholders extensively, including export promotion councils and relevant wings of the commerce ministry, an official statement said.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

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