GST to make exports more competitive: Commerce Secy
Implementation of Goods and Services Tax (GST) from July 1 would help reduce cascading effects of multiple taxes, lower cost and make exports more competitive, a top government official said on Saturday.
Commerce Secretary Rita Teaotia said the two main export promotion schemes - Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS) - will continue post GST implementation but would be aligned with the new indirect tax regime.
The commerce ministry, she said, is reviewing the validity of the scrips and export obligation periods to make them more realistic and aligned with GST network so that there is a seamless process of extending benefit to exporters. She was addressing exporters at an event organised by Federation of Indian Export Organisation (FIEO) in Mumbai.