Interviews
TEA welcomes reduction of Customs Duty on capital goods & equipments
12 Apr '08
3 min read
He also appreciated for lowering of average export obligation under EPCG scheme for year 2007- 08 for the sectors which have a decline in export of more than 5% in 2007-08.
Shri. Sakthivel was happy to note the Hon'ble Minister's statement for resolving the refund of Service Tax on the services linked to exports shortly and appreciated the Government's intension to refund the number of State Taxes by formulating a scheme for rebating these taxes with urgency.
Shri. A. Sakthivel welcomed the Minister's statement for refunding of Terminal Excise Duty and CST within a month period, failing which the 6% interest would also be given to exporters.
Another good measure is refund of this Duty / Tax along with interest for those claims that have become due on or after 1.4.2007.
He also welcomed the policy for bringing Advance Authorisation Scheme and EPCG scheme under the EDI system with effect from 1st July 2008 and he added that this initiative will help to reduce the Transaction Cost.
Another laudable measure is treating of all EDI Ports as a single Port with effect from 1.1.2009 and there will be no requirement of TRA under Advance Authorisation.
The inclusion of a few additional Ports under Export Promotion Schemes will help to reduce the costs and keep the delivery schedules.
Most importantly, the Hon'ble Minister's announcement on setting up of a Joint Task Force to draw up a Detailed Action Plan to achieve the objectives of Development of World Class infrastructure, improvement of Ports, ICDs and Land Customs Stations, the development of Global Manufacturing hubs to selected sectors including Textiles, Development of chain of sectors specific Skill Development Schools will go a long way in the enhancement of our country's exports.
Shri. A. Sakthivel hoped that with this kind of measures taken in the FTP, the exporters will strive hard to sustain in the global market and improve their export performance.
Shri. Sakthivel was happy to note the Hon'ble Minister's statement for resolving the refund of Service Tax on the services linked to exports shortly and appreciated the Government's intension to refund the number of State Taxes by formulating a scheme for rebating these taxes with urgency.
Shri. A. Sakthivel welcomed the Minister's statement for refunding of Terminal Excise Duty and CST within a month period, failing which the 6% interest would also be given to exporters.
Another good measure is refund of this Duty / Tax along with interest for those claims that have become due on or after 1.4.2007.
He also welcomed the policy for bringing Advance Authorisation Scheme and EPCG scheme under the EDI system with effect from 1st July 2008 and he added that this initiative will help to reduce the Transaction Cost.
Another laudable measure is treating of all EDI Ports as a single Port with effect from 1.1.2009 and there will be no requirement of TRA under Advance Authorisation.
The inclusion of a few additional Ports under Export Promotion Schemes will help to reduce the costs and keep the delivery schedules.
Most importantly, the Hon'ble Minister's announcement on setting up of a Joint Task Force to draw up a Detailed Action Plan to achieve the objectives of Development of World Class infrastructure, improvement of Ports, ICDs and Land Customs Stations, the development of Global Manufacturing hubs to selected sectors including Textiles, Development of chain of sectors specific Skill Development Schools will go a long way in the enhancement of our country's exports.
Shri. A. Sakthivel hoped that with this kind of measures taken in the FTP, the exporters will strive hard to sustain in the global market and improve their export performance.
Tirupur Exporters' Association
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