New drawback rates will help boost exports: FIEO
The Federation of Indian Export Organisation on Friday said the government's move to revise drawback rates in sync with the changes in prices of inputs and duties will help in boosting exports.
By PTI |
NEW DELHI: The Federation of Indian Export Organisation on Friday said the government's move to revise drawback rates in sync with the changes in prices of inputs and duties will help in boosting exports.
The upward revision in rates for thrust items like carpet and floor coverings, readymade garments, leather and leather articles and stainless steel utensils will help in encouraging exports from the country, FIEO Chief O P Garg said in a statement.
The government had on Thursday increased drawback rates that will take into account service tax and brought in 84 new items that will be entitled to refund of taxes paid while producing goods for exports. The new rates will be effective from July 15.
Garg also welcomed the inclusion of new items in the list, the release said.
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