Business beyond borders..! A way head to improve trade and exports..!

NewsBharati    23-Feb-2019
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New Delhi, February 23: Promoting the exports and improving the compliances, the Central Board of Indirect taxes and Customs have stepped up to constitute three working groups, studying and recommending the measures to facilitate trade and the business beyond the borders.

 
The working groups are expected to focus on improving the legislative structure of customs tariff and update it to suit the emerging and future needs of the economy and industry. “Special focus would be given to create a comprehensive export tariff structure to enhance India’s export competitiveness.
Also the group will be focussing over the export promotion and facilitation with emphasis on boosting exports through e-commerce, addressing the trade facilitation barriers faced in India’s export markets and improving the quality of logistics services for exporters.
Enhancing compliance, plugging loopholes to improve the revenue collection on customs and curb IGST refund frauds, will form the core parcel of the team meanwhile.
Further the groups will consult the stakeholders extensively, including the export promotion councils and relevant wings of the Ministry of Commerce and industry. However, the groups will be submitting the report within a period of two months.