For work­ers reg­is­tered un­der GST, Cen­tre will pay pre­mium

The Times of India (Mumbai edition) - - TIMES NATION -

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.

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