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GST has affected competitiveness of export sector: FIEO

10
Jan '20
Pic: Shutterstock
Pic: Shutterstock
The goods and services tax (GST) refund has affected the liquidity of exporters as there is a time lag between the payment of input tax credit (ITC) and its refund at the time of exports, according to the Federation of Indian Export Organisations (FIEO), whose president Sharad K Saraf recently said GST has affected the competitiveness of the export sector.

The e-wallet scheme recommended by the GST Council in October 2017 that might have helped in easing the liquidity problem of exporters is yet to be rolled out, he said.

It is unfortunate that exporters have been singled out for GST frauds, he said in a press release.

Fibre2Fashion News Desk (DS)


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