A scheme that offers rebate on all taxes at the central and state levels to the exporters of apparel and made-ups is likely to be extended to all categories of textile exports as an alternative to the MEIS scheme that must be withdrawn under WTO rules.
The government is considering a scheme to refund taxes imposed on India’s exports to the US that will suffer loss of competitiveness once the concessional duties enjoyed under the Generalised System of Preferences (GSP) are withdrawn.
Racing against time to meet the GST collection target for 2018-19, tax officers have been prodding businesses to pay taxes by Sunday so that the amount gets reflected in the GST revenue collection data for March to be released on April 1 (Monday), a government official said. Since taxes collected by non-EDI (electronic data exchange) ports takes about four-five days to get reflected in the system, the government is planning to come out with a reconciled data for full fiscal by April 10, the official further added.
New Delhi: The government has again extended its deadline to impose retaliatory customs duties on 29 US products, including almond, walnut and pulses, till May 2.
Industry Desk: Bangladesh’s textile industry has earned a good repute on global plane because of quality products, but factory-waste management found largely repugnant.
The pilot project envisaged for rolling out simplified monthly goods and services tax (GST) return forms from April 1 has been deferred and the new forms would be made available once they the notified and the software is ready.