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Extend pre GST duty drawback rates: House panel

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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

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