Talking to the media after the conclusion of the 22nd GST Council meeting today, Union Finance Minister Arun Jaitley said that the government will initiate an e-wallet facility for all exporters from April 1, 2018.
The GST Council meeting exempted dealers in precious metals, including gems and jewellery, from the Prevention of Money Laundering Act (PMLA), 2002.
Jaitley conceded that there had been blockage in credit of exporters which was affecting their cash liquidity. Small and Medium Enterprises (SMEs) with Rs 1 crore turnover will have to file quarterly returns, the Finance Minister said.
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