The upcoming Goods and Services Tax (GST) Council meeting on September 20 is likely to approve the mechanism to allow a single authority — state or Central — to sanction and process GST refunds for exporters in a faster and simpler manner. Refunds of around Rs 10,000 crore have piled up.
The move is expected to give a fillip to the struggling exports sector, which contracted 0.37 per cent to $107.41 billion in April-July 2019-20. Outbound shipments are facing headwinds due to weak global demand and liquidity constraints.
courtesy by : business-standard