Facing problems with GST refunds? Check out ZeeBiz campaign for businesses - #GSTMakeItEasy
#GSTMakeItEasy - This is Zee Business’ initiative to raise some of these issues with the concerned authorities. The channel has been discussing issues related to GST from Monday to Friday. The channel is running a hashtag #GSTMakeItEasy where people can share their issues
Goods and Services Tax (GST) – this indirect tax regime has been dubbed as one of the biggest reforms in the country. While bringing the entire country under one tax structure, one of the objectives was to reduce the complexities of tax compliances. The GST has been able to make a good impact to some extent, but there are several pain-points still present. These problems have been creating hurdles for many businesses.
#GSTMakeItEasy - This is Zee Business’ initiative to raise some of these issues with the concerned authorities. The channel has been discussing issues related to GST from Monday to Friday. The channel is running a hashtag #GSTMakeItEasy where people can share their issues.
WATCH | Click on Zee Business Live TV Streaming Below:
The purpose of this Zee Business campaign is to flag the issues with the concerned authorities so that these issues are discussed in the GST Council meetings and appropriate action is taken to resolve them.
In this edition, there is a discussion on the problems being faced by those businesses whose refund claims have not been processed. Sharad Kumar Saraf, President of Federation of Indian Export Organisations’ (FIEO) tells more on this.
Watch Zee Business Tweet Video Below:
एडवांस ऑथराइजेशन स्कीम को लेकर किस तरह की सख्तियां लगाई गई हैं और इस मामले में सरकार को क्या करने की जरूरत है? जानें यहां#GSTMakeItEasy पर ट्वीट कर अपनी समस्या बताएं@GST_Council @nsitharaman @Anurag_Office @cbic_india @ianuragthakur @nsitharaman @PMOIndia @BrajeshKMZee pic.twitter.com/3RIJsZQ6uK
— Zee Business (@ZeeBusiness) February 18, 2021
Questions asked by the channel from the President
- What kind of problems are being faced by the exporters because of delays in GST refunds? What is the Solution?
- What are the issues regarding advance authorisation scheme? What should the government do to resolve it?
This is what Saraf has to say on this:
Problems are being faced by the exporters and importers
In the Advance Authorisation Scheme (AAS), there is rigidness in the limit of rebates
Under the AAS, GST refund issues are creating problems with regards to import of raw material.
The new rules were implemented in 2018 but the demand is being raised from 1 July 2017.
Countervailing duty (CVD) and Special Additional Duty (SAD) is not available if the exports targets are not met
EPCG relaxations only on physical exports. There are no relaxations on services.
The business can send their problems via tweets using the hashtag #GSTMakeItEasy.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.