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Rising Costs for India’s Engineering Exporters, Digital Economy Growth Trends – India Market Watch

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Engineering exporters, shipping companies in India suffer increased costs under GST

The Engineering Export Promotion Council of India (EEPC) has reported increased costs for shipping companies under the Goods and Services Tax (GST) regime due to changes to the refund schedule and roll back of tariff incentives.

Under the GST, drawback refunds will not be released till the end of September or October. Further, supplies of goods to export oriented units (EoU) from domestic tariff area are no longer considered as ‘deemed exports’; shippers will not be allowed to import inputs without payment of duty under Advance Authorization.

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