EEPC seeks government's intervention for 90% GST refunds

"We strongly recommend a 'war room' for exports as well as suggested by the Commerce and Industry Minister Suresh Prabhu for foreign investors," EEPC India said.

EEPC India wants the government to push for release of at least 90 per cent of goods and services (GST) refunds to exporters immediately after the shipping bills are filed with the authorities, as per a PTI report.

"We strongly recommend a 'war room' for exports as well as suggested by the Commerce and Industry Minister Suresh Prabhu for foreign investors," EEPC India Chairman T S Bhasin was quoted as saying.

Engineering exporters' apex body is expecting Prabhu, the newly appointed minister, to intervene with the finance ministry and the GST Council for 90 per cent GST refunds .

"If the Integrated Goods and Service Tax (IGST), paid by exporters, is added, the dues to the exporting community would be in excess of Rs 1700 crore for July itself. Such a dispensation would certainly add to our costs and make our exports that much uncompetitive," Bhasin said.

Source: PTI


Event date: 
Wednesday, September 6, 2017

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