Skip to main content

Extend pre GST duty drawback rates: House panel

By
Extend pre GST duty drawback rates: House panel
A parliamentary panel has suggested the government extend the preGST duty drawback rates until June next year or till the revenue department comes out with the revised rates for exporter
In its report on the ´Impact of goods and services tax (GST) on Exports´ placed in Parliament on Tuesday, the Standing Committee on Commerce chaired by Naresh Gujral recommended that a formal mechanism for grievance redressal of exporters must be put in place
“In order to bring relief to the exporters, the Committee recommends that the Department of Revenue, Ministry of Finance extend the preGST duty drawback rates till June 30, 2018 or till such time the Department works out the revised duty drawback rates.
“The Committee hopes that this will enable the exporters to overcome the problems being faced by them currently besides helping them to takealongterm perspective while negotiating export orders,” said the panel in the report.
Panel raps govt over inadequate  fund allocation for defenceA parliamentary panel on Tuesday came down hard on the government  for inadequate allocation  of funds to the three defence services and inordinate delays in the procurement of key military  platforms  and weapons system for them.
In its latest report, the standing commitee on defence particularly mentioned the capital budget allocated to the Army, the Navy and the Air Force for the currency year.
The Business Standard, New Delhi, 20th December 2017

Comments

Post a Comment

Popular posts from this blog

Data storage norm splits digital payments industry

By
Data storage norm splits digital payments industry  India’s nascent digital payment industry could be thrown into disarray due to the demand by the Reserve Bank of India (RBI) that all user data be stored within the country, fears an industry grouping, which has termed the decision as “heavy-handed”, even as others, including the country’s largest digital payment provider Paytm, have hailed the move.  In a bid to narrow the growing schism, the industry is planning to send a formal representation to the regulator highlighting its concerns, a top official told ET.  “We are trying to build a consensus on the issue," said the person adding that the representation to the central bank will be ready this week.  RBI on April 6, mandated all payment companies—global and local—to set up data storage facilities within India by October. The stringent six-month deadline has attracted the ire of several sections of the industry that fear it will lead to a disruption of wel...
18 comments
Read more

Offer’s for all of you

By
Great Bumper Dhamaka Offer’s for all of you... It's Time to see your Business Online, WebeCreator Offer Website Designing with domain & Email @ nominal charges. For a year For More information visit us http://goo.gl/KlpppF call on 9890151261/9773197533  drop a mail to sales@webecreator.com
Post a Comment
Read more

Sebi to finalise options in commodities today

By
The Commodity Derivatives Advisory Committee of the Securities and Exchange Board of India ( Sebi) will meet on Friday with senior officials of the latter, to give a final shape to the rules on options trading in commodity futures, beside revising the warehousing norms to ensure good delivery on settlement. The decision taken, after discussing with the advisory committee, will be placed before the regulator’s board, to finalise the regulations. According to knowledgeable sources, three commodities in each segment, agricultural and non- agricultural, have been proposed for introducing options. It appears commodities from the soya and guar segments are preferred in the former. From the non- agri segment, it is likely that gold, silver and crude oil will be finalised. All these These have better liquidity and both the National Commodity and Derivatives Exchange and the Multi Commodity Exchange, respectively, will be able to introduce the options. In the equity segments, options ar...
17 comments
Read more