Exporters seek extension of tax benefits for SEZs, presumptive tax for cross-border e-commerce

Exporters on Wednesday suggested to the government a series of steps, including extension of fiscal benefits to SEZ units, presumptive tax for cross-border e-commerce and free trade pacts with countries like the US and UK, to boost domestic manufacturing and outbound shipments.

These recommendations were made by the Federation of Indian Export Organisations (FIEO) at a meeting of the Board of Trade (BOT) which was chaired by Commerce and Industry Minister Piyush Goyal. Other suggestions included permitting duty free import of equipment required for R&D and product development; setting up of a Niryat Vishwavidyalay; extension of interest subsidy scheme in the new foreign trade policy; and immediate release of GST and drawback funds.