The government on Thursday said that exports of apparel post-withdrawal of Generalised System of Preferences (GSP), has increased by 5% as compared to the corresponding period before withdrawal.
The Government has come out with the timeline for the new e-invoicing system under GST and the limit of application for each category.
India's apparel exports to the US post removal of duty concessions under Washington's Generalized System of Preferences programme has seen a rise of 5 per cent compared to the same period last year when the duty benefits were available, Parliament was informed on Thursday.
The electronic-invoice (e-invoice) under the Goods and Services Tax (GST) regime that starts from January next year will help banks in expeditious disbursal of loans to micro, small and medium enterprises (MSMEs) as creditworthiness of such enterprises can be instantly authenticated, two officials in the finance ministry said requesting anonymity.
Mumbai: The Indian rupee opened on a weak note and fell 11 paise to 71.73 against the US dollar in early trade on Friday, as investors traded the cautious path ahead of the release of GDP data.
The Finance Ministry has said that ‘e-invoicing’ will be mandatory for businesses having turnover of Rs 100 crore or more from April 1.