Page 51 - GSTL_26th March 2020_Vol 34_Part 4

2020 ] NEWS DESK J147
Export Incentive Scheme (MEIS) will be “phased out”. It is proposed to digitally
refund to exporters, duties and taxes levied at the Centre, State and local levels.
Goyal said duties/taxes/levies not refunded in any other scheme will be
refunded under this new scheme, which will be rolled out soon by the Depart-
ment of Revenue.
The move assumes significance as a WTO dispute resolution panel has
ruled that MEIS was not in compliance with the global trade norms.
Under the WTO rules, certain duties like State taxes on power, oil, water,
and education cess are allowed to be refunded.
Further, the Commerce Minister said as India has graduated from the
category of the least developed countries, it cannot give subsidies for exports.
So far, exporters have been getting refund under duty drawback and
GST paid on raw materials or intermediates.
The scheme, he said, will help in providing a level playing field to do-
mestic exporters in the international markets.
The Ministry will hold a detailed consultations with stakeholders con-
cerned for inclusion of products, which would avail refund.
The Department of Revenue will prioritize and soon fix RoDTEP rates
for different goods/sector and will notify in a phased manner and accordingly
MEIS will be rolled hack for those items. “It will be given to exporters through
transferable scrips. All the process will be online to minimise human interface,”
he said.
“Stakeholders meeting will be held for fixing the rates. We will take data
and see what all cost, they bear.” Goyal said adding “we will use the next 6-8
months to talk to the industry, work but the input taxes which do not get refund-
ed”.
A monitoring and auditing mechanism will be put in place.
The country’s exports contracted for a sixth month in a row by 1.66 per
cent. in January to USD 25.97 billion.
During April-January, 2019-20, exports slipped 1.93 per cent. to USD
265.26 billion, while imports declined 8.12 per cent. to USD 398.53 billion, leaving
a trade deficit of USD 133.27 billion.
[Source : Millennium Post, New Delhi, dated 14-3-2020]

I-T & Customs Tribunals to take up urgent cases only
The Income Tax Appellate Tribunal (ITAT) and Customs, Excise & Ser-
vice Tax Appellate Tribunal (CESTAT) will hold only urgent hearings amid the
Covid-19 spread and its impact on the health and welfare of people.
CESTAT have adjourned sitting of Benches for some days, starting from
16-3-2020. While the CESTAT has barred all Benches from sitting for the period
between March 16 and March 20, ITAT has adjourned all matters before the Tri-
bunal - save urgent matters - from March 17 to March 27.
“The functioning of Benches for a period from March 17 to March 27
shall be restricted to urgent matters... all routine matters stand adjourned,” a of-
fice order said on 16-3-2020.
GST LAW TIMES  26th March 2020  147