This is an interim decision and the long term solution is not exempting in GST. The Finance Minister announced, “We will make e-wallet for every exporter, and soon announce an e-wallet platform.”
The exporters can export with a nominal GST rate of 0.1 per cent till 31 March 2018. The refund of July 1 - August 31, 2017 will be given till March 31, 2018. By April 2018, e-wallets will be functional and the compliance burden would be relaxed for the small and medium businesses. The Council also expanded the scope of the composition scheme from Rs 75 lakh to Rs 1 crore.
According to the previous GST rates, spark-ignition reciprocating or rotary internal combustion piston engine, compression-ignition internal combustion piston engines (semi-diesel or diesel engines) and pumps for dispensing fuel or lubricants were under 28 per cent