Exim community awaits GST rules of business

Under GST, exporters and importers would have to pay the duty and then apply for refunds

Exporters and importers are awaiting the finalisation of rules of business under the new goods and services tax (GST) regime. Currently, exporters are allowed duty-free import of goods used for manufacture of products. Under GST, they would have to pay the duty and then apply for refunds. 

The Federation of Indian Export Organisations (FIEO) has said this will leave exporters, especially smaller enterprises, without enough working capital. And, a loss of export competitiveness.

The treatment of current incentive schemes, such as the Advance Authorisation Scheme and the Export Promotion of Capital Goods Scheme, have also been raised. Under GST, if exempt goods