Moneycontrol
Dec 06, 2017 09:42 PM IST | Source: CNBC-TV18

Software dealing with GST refunds for exporters are ready: Commerce Secy

In an interview to CNBC-TV18, Rita Teaotia, Secretary, Commerce said we have been flagging exporters' concerns on goods and services tax (GST) refunds.

CNBC TV18 @moneycontrolcom

In an interview to CNBC-TV18, Rita Teaotia, Secretary, Commerce said we have been flagging exporters' concerns on goods and services tax (GST) refunds.

She further said that as a consequence of that collaboration with the Department of Revenue on October 6th, the GST Council met in a dedicated session to discuss the challenges for the exporters.

The decisions that were taken on October 6th required software solutions and the Revenue Secretary pointed out that there were technical issues with the software and those are getting resolved now. Therefore, applications are now beginning to come in for the refunds and we will see the refunds flowing, she added.

Talking about trade deficit, she said the trade deficit is not necessarily a negative.

On export front, she said we have seen 14 months of good growth.

"Our special economic zones (SEZs) are pretty robust. They continue to contribute 20-30 percent of India's exports and this has potential to grow and that is what we are pushing," Teaotia said.

Watch accompanying video for more details.

tags #Business

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