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GST rates on 27 items reduced; e-wallet by April 2018 for exporters: FM

Rverse charge mechanism for transactions between registered and unregistered businesses has been deferred till March 31, 2018

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Union Finance Minister Arun Jaitley and Revenue Secretary Hasmukh Adhia (L) at the 22nd meeting of the Goods and Services Tax (GST) council, in New Delhi (Photo: PTI)

BS Web Team New Delhi

Last Updated : Oct 06 2017 | 9:04 PM IST

The GST Council, headed by Finance Minister Arun Jaitley on Friday made a series of deliberations on the new tax regime to provide relief to thousands of small firms and exporters.

The meeting was the 22nd of its kind, held a day after Jaitley, Prime Minister Narendra Modi and BJP President Amit Shah went into a huddle, reportedly to discuss the economy.

Speaking to reporters, Jaitley said, "GST doesn't have exemptions, and hence there will be an e-wallet for each exporter with a notional advance refund amount. E-wallet for exporters to be implemented by 1st April 2018, till then they

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