GST Optimization on Exports – MSMEs

World Trade Center Shamshabad and National Institute for Micro, Medium and Small Enterprises (An Organization of the Ministry of the MSME, Government of India) have jointly organized a session on GST Optimization on Exports – MSMEs.

The main objective of the session is to provide a complete overview of the provisions under GST for exporters of goods or services or both, especially for the MSMEs & first-timers. Union Commerce & Industry Minister Piyush Goyal has said that the country has set an ambitious target of $ 2 trillion in exports by 2030. MSMEs are the backbone of the Indian Economy as they contribute to about 11 crores of employment,40% of the exports and contribute 28% to the GDP of the country.

On these sidelines, a webinar is organized and addressed by CMA Shiba Prasad Padhi, a practicing Cost Accountant from Bhubaneswar has explained at length on what are the procedures available for exporters under GST, how they should issue tax invoices and who to claim the refunds and by what date. The session was moderated by CMA B Mallikarjuna Gupta.

18 CMA Padhi has explained clearly what is the difference between the Zero Rate Supplies and Nil Rated supplies and how people make mistakes while reporting and also on how Merchant Exporters can be taxed at a lower rate under GST for exports and how it will save the cashflow challenges of the exporters.

Mr. Bose K Nair, President, Mr. Y. Varaprasad Reddy, Vice President & Ms. Srujana, Associate Director from World Trade Center Shamshabad & World Trade Center, Dr. K. Visweswara Reddy, Faculty Member & Rector at National Institute for Micro, Small and Medium Enterprises has also attended the session