Easier rules to aid IT, financial service exports

The Goods and Services Tax (GST) Council is likely to consider a slew of changes to the tax treatment of services exports at its October 7 meeting, aimed at aligning rules with how Indian companies actually serve overseas customers and easing the recovery of taxes embedded in export costs, sources said.

The proposals could provide relief to information technology and IT-enabled services companies, engineering and consulting firms, testing and certification agencies, research organisations and financial-service providers.