FIEO representatives meet Bengal FM

The Federation of Indian Export Organisations said that a team called upon West Bengal finance minister Amit Mitra today in connection with the Goods and Services Tax being introduced soon in the country.
A FIEO statement said that its president Ganesh Kumar Gupta, accompanied by senior office-bearers, called on Mitra to discuss the opportunities for states like West Bengal on the Industrial front in general and exports in particular once the GST was implemented.
"In order to grow from the present exports of USD 8.21 billion (2016-17) the state welcomes FIEO to conduct studies and set the agenda for the state by identifying new areas of exports and global markets and suggest means to strengthen traditional sectors of exports through upgradation of skills and technology," the statement quoted Mitra as saying.

A section of the export sector is apprehensive that the GST will affect their liquidity if inputs required for exports are subject to GST, according to Gupta.
Gupta suggested that exporters be allowed to pay GST on transactions through e-currency and that the GST Council might look at providing export refunds through the duty drawback option by expanding it to cover both basic customs duty and Input Tax Credit.