Commerce Department to fix exporters’ GST woes
The Commerce Department has decided to take up with the GST Council and the Finance Ministry the GST related problems faced by exporters, such as issues of compliance, refunds and audits, to ensure speedy redressal of grievances, sources have said.
Exporters have been complaining about receiving show-cause notices from GST authorities, either suo moto or based on audit objection, to pay GST on overseas bank charges, along with interest and penalty, despite the GST council earlier agreeing that it should be paid by the Indian banks.
With the Red Sea crisis slowing down shipments, exporters also want more than the 90-days time allowed right now for EGM filing for merchant exporters when procuring goods for exports at 0.1 per cent concessional GST.
“The Commerce Department has sought inputs from various export bodies on their GST related woes so that these could be collated, analysed and presented before the GST Council and Finance Ministry for action,” a source told businessline.
Exporters’ body FIEO has also separately submitted to Finance Minister Nirmala Sitharaman the problems faced by the exporting community under the GST regime and sought solutions.
