The GST Council should simplify the structure of the IGST and truly zero rate exports, as well as reduce the compensation cess if the Compensation Fund continues to record surpluses after the recent rate decreases
8 min read30 Jul 2018Errors in GST returns, pertaining to either the summary of transactions, purchases, sales or a comprehensive filing of transactions are causing delays in processing claims, says CBEC chief Vanaja Sarna
1 min read26 Feb 2018The export items that will now enjoy a higher duty drawback include marine and seafood products, automobile tyres and bicycle tyres/tubes, leather and articles made of leather
2 min read26 Jan 2018For India to realize its full export potential, and to increase its share of manufacturing in the economy, to create industrial jobs on a large scale, much needs to be done
4 min read24 Jan 2018The government, as part of a foreign trade policy review, has announced a series of steps to revive exports amid disruptions to supply chains arising from GST rollout
3 min read6 Dec 2017A parliamentary panel has asked the finance ministry to allow exporters to use the old system of refunds to mitigate the compliance burden incurred in transitioning to GST
2 min read30 Nov 2017CBEC had last month started GST refunds for exporters who have paid IGST and have claimed refund based on shipping bill
2 min read29 Nov 2017The latest changes by the GST Council will come as a relief for exporters and SMEs
3 min read9 Oct 2017GST Council may allow exporters refunds without waiting for invoice details of raw materials and other purchases, but based on summary of all transactions and details of exports made
2 min read3 Oct 2017The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared