GST will make exports competitive, says Sitharaman

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“GST gives a feeling that market in India is one now and there are no barriers between regions or provinces,” the

The Goods and Services Tax (GST) regime, when implemented, will result in eliminating barriers between the States and make exports more competitive, according to Minister of State for Commerce & Industry Nirmala Sitharaman.

“GST gives a feeling that market in India is one now and there are no barriers between regions or provinces. Even within the country, the value chains — which will get integrated — will have a simpler and straightforward flow (of goods) and therefore, it should make exports more competitive rather than expensive,” Ms. Sitharaman said.

The Union Cabinet on March 20, 2017, approved four GST legislations — the Central GST Bill, Integrated GST Bill, Union Territory GST Bill, and the Compensation Bill — which had earlier been approved by the GST Council over 12 meetings spanning about six months. The Bills now need to be passed by the Parliament, while the State GST Bill needs to be passed by the legislative Assemblies of each State.

Responding to a query on the status of talks between India and the U.S. on H1-B visa-related issues, the Minister said, “The new U.S. administration is focusing on the larger issue of immigration and the notification which they have given for H1-B for 2018 says there is no change in position and we find no change.”

Source: http://www.thehindu.com/business/Economy/gst-will-make-exports-more-competitive-nirmala-sitharaman/article17608510.ece

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