{"id":31638,"date":"2018-10-27T17:02:27","date_gmt":"2018-10-27T11:32:27","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=31638"},"modified":"2018-10-27T17:02:27","modified_gmt":"2018-10-27T11:32:27","slug":"eliminate-embedded-taxes-to-boost-exports","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/eliminate-embedded-taxes-to-boost-exports\/","title":{"rendered":"Eliminate embedded taxes to boost exports"},"content":{"rendered":"<p><strong><a href=\"http:\/\/www.thehindu.com\/business\/budget\/eliminate-embedded-taxes-to-boost-exports\/article22561073.ece\">Eliminate embedded taxes to boost exports<\/a><\/strong><\/p>\n<p><strong>Context<\/strong><\/p>\n<p>The Economic Survey has suggested that the Goods and Services Tax (GST) Council should comprehensively review \u2018embedded taxes\u2019 and expeditiously eliminate the embedded export taxes to boost India\u2019s manufacturing\u00a0exports.<\/p>\n<p><strong>Survey moots thorough review of taxes from products left outside the ambit of GST, and from within<\/strong><\/p>\n<p>The Economic Survey has suggested that the Goods and Services Tax (GST) Council should comprehensively review \u2018embedded taxes\u2019 and expeditiously eliminate the embedded export taxes to boost India\u2019s manufacturing\u00a0exports.<\/p>\n<p><strong>Need for national policy: National Integrated Logistics Policy<\/strong><\/p>\n<p>Pointing out that high cost of logistics was impacting competitiveness in domestic and global market, it suggested the formulation of a National Integrated Logistics Policy to bring in greater transparency and enhance efficiency in logistics operations.<\/p>\n<ul>\n<li>\u201cImproving logistics sector has huge implication on exports and it is estimated that a 10% decrease in indirect logistics cost can increase 5-8% of exports,\u201d the Survey said.<\/li>\n<\/ul>\n<p><strong>Data on the international exports of states<\/strong><\/p>\n<p>The document has also thrown up some interesting findings on India\u2019s export sector<\/p>\n<p>This included data on the international exports of states, the first in India\u2019s history, showing that five states \u2014 Maharashtra, Gujarat, Karnataka, Tamil Nadu and Telangana \u2014 in that order account for 70% of India\u2019s exports<\/p>\n<p><strong>Firm-level analysis on exports<\/strong><\/p>\n<p>Similarly, for the first time, the Survey did a firm-level analysis on exports and found that export concentration by firms was much lower in India than in the U.S., Germany, Brazil, or Mexico \u2013 meaning that India had no \u2018exports superstars\u2019 and that its export structure was \u201cegalitarian\u201d in nature.<\/p>\n<ul>\n<li>\u201cThe top 1% of firms accounted for 72, 68, 67, and 55% of exports in Brazil, Germany, Mexico, and USA respectively, but only 38% in the case of India. The top 5% accounted for 91, 86, 91, and 74% in those countries, compared with 59% in India,\u201d the Survey said, adding that the new GST data had made it possible to construct firm-level exports<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Eliminate embedded taxes to boost exports Context The Economic Survey has suggested that the Goods and Services Tax (GST) Council should comprehensively review \u2018embedded taxes\u2019 and expeditiously eliminate the embedded export taxes to boost India\u2019s manufacturing\u00a0exports. Survey moots thorough review of taxes from products left outside the ambit of GST, and from within The Economic&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/eliminate-embedded-taxes-to-boost-exports\/\">Continue reading <span class=\"screen-reader-text\">Eliminate embedded taxes to boost exports<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-31638","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704818902},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=31638"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31638\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=31638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=31638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=31638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}