TIL Desk/Business/Bengaluru/ The incentive schemes designed for promotion of exports will continue even after the GST roll out from July 1, while the government may do away with the deemed export benefits, a top official said today.
Deemed exports refer to the transactions in which the goods supplied do not leave the country and the payment for such supplies is received either in Indian currency or in free foreign exchange.
The government is committed to continue incentive schemes for export promotion, Commerce Secretary Rita Teaotia said while addressing exporters at an event here. However, she clarified that deemed export benefits may discontinue, as all will get level playing field in the Goods and Services Tax regime, FIEO said in a statement.
While replying to the concerns of exporters due to regular beak down in icegate server of customs, she said the department is in the process of upgrading the system so that all the issues of the exporters and importers will be solved.
Open house session was organised by the Federation of Indian Exports Organisation (FIEO) to invite suggestions from exporters on the measures needed in foreign trade policy.
