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Proposal to include state level duties in duty drawback scheme
01 Jun '09
1 min read
The Union Textile Ministry has proposed inclusion of state level taxes in the duty draw back scheme for exporters.
Under the scheme an exporter is eligible to claim back taxes paid under the purview of the central government like import and customs duties for goods which have been imported for the purpose of exports.
This is expected to make the exporters more competitive in the export markets and the textile ministry will try its best to have this proposal passed.
Currently the sector is going through a very tough period what with exports falling by as much as 30 percent in the last quarter of the previous fiscal.
Under the scheme an exporter is eligible to claim back taxes paid under the purview of the central government like import and customs duties for goods which have been imported for the purpose of exports.
This is expected to make the exporters more competitive in the export markets and the textile ministry will try its best to have this proposal passed.
Currently the sector is going through a very tough period what with exports falling by as much as 30 percent in the last quarter of the previous fiscal.
Fibre2fashion News Desk - India
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