Watch out: Big bro's on the prowl

Exporters beware. The government will soon crack down on those misusing various export incentives.

This will be done through stringent penal provisions, which could include prosecution, in the proposed amendments to the Foreign Trade Development and Regulation (FTDR) Act.

The commerce ministry will move the Cabinet on the amendments to the FTDR. Among the schemes that are prone to rampant misuse is DEPB, which is meant to neutralise the incidence of customs duty on the import content of the export product. A case in point is the circular trading in gold.