New Delhi: The GST Council on Friday eased rules for exporters and gave relief to small and medium scale enterprises (SMEs) on filing returns and paying taxes, 3 months after the Goods and Services Tax legislation came into effect since July 1. In the 22nd GST Council meeting, taxes were cut on more than two dozen items.

The government will initiate an e-wallet facility for all exporters from April 1, 2018, Union Finance Minister Arun Jaitley said on Friday after the completion of the meeting.

“Compliance burden of medium and small taxpayers in GST is being reduced”, Jaitley told reporters after the 22nd meeting of the Council.

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.

With an eye on the Gujarat polls, the government put gem and jewellery dealers out of the Prevention of Money Laundering Act (PMLA) in the GST Council meeting.

The move is believed to be timed with a view to the wooing voters in the upcoming Gujarat assembly election as the development will particularly impact traders in the state.

In doing so, the government rolled back the previous notification, according to which dealers in precious metals, precious stones and other high value goods were notified as persons carrying on designated business and professions under the Prevention of Money Laundering Act, 2002.