Commerce and Industry minister Nirmala Sitharaman has given some moments to the finance minister Arun Jaitley to discuss various issues of exporting industries while also talked about the labor-oriented work being practiced in various hand made manufacturing industries.
She was keen to apply some exemption on the industries related to leather, plantations and various other service sectors like hospitality and tourism. The upcoming GST will swallow some service sectors as mentioned but the minister was giving some reasonable sign for this exemption plea.
She took the attention towards the export industry and wanted that the return tax time must be lessened than the current approx time is taken. The tax return took around 6 to 8 months in the current scenario which then blocks the funds of the organization giving a hit back at the development. She said that “If such a move is not possible, at least, the lowest GST rate (5%) should be imposed.”