GST overhaul ‘to ease burden on exporters’ amid trade turbulence

India’s proposed overhaul of Goods and Services Tax (GST) will speed up tax refunds for exporters, improve their cash flow, and streamline compliances for small businesses, as part of overall reforms meant to unlock the untapped potential of the economy, a central government official said on Saturday.

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India’s efforts to make life easier for businesses, especially exporters, comes as they face headwinds in their largest market, the US, which has slapped additional tariffs of 50%, including a penal rate for New Delhi's energy trade with Russia.