Govt assures of simple norms for duty refunds
Within a week of announcing a Rs 1,400-crore package, govt has assured exporters that it will expedite the refund of duty refund.
By PTI |
NEW DELHI: Within a week of announcing a Rs 1,400-crore package, government has assured exporters that it will expedite the refund of duty refund dues to mitigate the effect of a sharp rise in rupee value.
Commerce Secretary G K Pillai informed an exporters' delegation yesterday that he would take up the issue of procedural delays with the Revenue Department.
The Delhi Exporters Association (DEA) has suggested the government to simplify the procedure for claiming refunds of duties through various schemes as more exporters have filed refund applications after the July 12 package.
The sops announced by the Central Board of Excise and Customs had hiked the Duty Entitlement Pass Book (DEPB) and drawback rates, effective from April this year.
"This has resulted into additional claims for the Revenue Department and may lead to a large backlog if immediate steps are not taken," DEA President S P Agarwal said.
The whole process is very cumbersome and takes about 6-7 months for the exporters to get payment from the authorities, he said, adding that procedures for getting the drawback should be simplified so that exporters get the monetary assistance they require on time.
"Drawback claims should be directed automatically to the exporters' account without them having to file a separate set of papers," he said.
Agarwal said exporters have faced a 12-15 per cent loss due to the appreciating rupee and if they get assistance after 6-7 months, the intent to provide them a relief would fail.
Commerce Secretary G K Pillai informed an exporters' delegation yesterday that he would take up the issue of procedural delays with the Revenue Department.
The Delhi Exporters Association (DEA) has suggested the government to simplify the procedure for claiming refunds of duties through various schemes as more exporters have filed refund applications after the July 12 package.
The sops announced by the Central Board of Excise and Customs had hiked the Duty Entitlement Pass Book (DEPB) and drawback rates, effective from April this year.
"This has resulted into additional claims for the Revenue Department and may lead to a large backlog if immediate steps are not taken," DEA President S P Agarwal said.
The whole process is very cumbersome and takes about 6-7 months for the exporters to get payment from the authorities, he said, adding that procedures for getting the drawback should be simplified so that exporters get the monetary assistance they require on time.
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"Drawback claims should be directed automatically to the exporters' account without them having to file a separate set of papers," he said.
Agarwal said exporters have faced a 12-15 per cent loss due to the appreciating rupee and if they get assistance after 6-7 months, the intent to provide them a relief would fail.
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