For workers registered under GST, Centre will pay premium
From P 1
The government will pay the premium for traders who are registered under GST... The other steps are expected to upgrade and modernise the existing retail trade,” said a source. During the last few weeks, discussions at the official level have been held at the level of cabinet secretary and the department of industrial policy and promotion is looking at the elements of what is being billed as a “retail policy”, sources said. Already, several relaxations have been made in the GST architecture in what is seen as the Narendra Modi administration’s efforts to reach out to small businesses.
Separately, the government is also working on a package for exporters, whose elements are yet to be finalised. One of the issues that may be part of the plan is a new incentive scheme for exporters, which also addresses the concerns of countries such as the US that have dragged India to the WTO.
Government sources said the commerce department has worked out a proposal under which the current incentive scheme through Merchandise Exports from India Scheme (MEIS) will only be available for farm exports. In case of the others, a duty and tax refund mechanism on the lines of Rebate on State Levies (RoSL) will be offered, where the plan is to cover the cost incurred by exporters on aspects such as property registration as well. Already, some sops have been announced but the plan is to build on it, said an officer.