Crucial GST Council meet today expected to give relief to exporters

BY : News Gateway / GST Council / New Delhi /

The GST Council will meet on Friday and is likely to provide some relief to exporters in terms of ffaster refunds as well as compliance.

The full fledged meeting of the Goods and Services Tax (GST) Council is also likely to assess the improvements in the GST Network’s functioning.

This will be the 22nd meeting of the Council. The committee, set up under Revenue Secretary Hasmukh Adhia on issues faced by exporters, is likely to submit its preliminary report to the Council on Friday.

Easy compliance for exporters, like quarterly filing of returns instead of monthly filing, is also likely to be discussed by the Council. The government has already allowed exporters to furnish Letter of Undertaking (LUT) instead of bonds at the time of exports, which will ease the compliance burden and stop locking up of capital.