Traders want GST exemption extended on export freight

The exemption from GST on export freight, introduced in 2018, ended on September 30 after being extended twice. Exporters now have to pay 18% GST on export ocean freight for which they can claim a refund. "The global trade is entering into a very difficult phase as countries are facing high inflation and impending recession affecting demand. The rate of growth in exports is also coming down as can be seen in export growth rate from April-August 2022," FIEO said.

from Economy-News-Economic Times https://ift.tt/WNQkbA5
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