Remove all taxes for export-By ICCI
The Indian Chamber of Commerce and Industry, Coimbatore, and some of the industry associations here have appealed to the Central and State Governments to remove all duties and taxes on exports to help the exporters.With a large number of exporting units here, the associations, especially those related to textiles and engineering, met recently to discuss the impact of rupee appreciation on exports and this was one of the remedial measures sought.They also called for the removal of “value cap” for exported items to avail themselves of Duty Entitlement Passbook (DEPB) scheme benefits. And, the DEPB rates should be increased to compensate fully for the fall in the value of the U.S. dollar. Exporters should get a one-year moratorium on the payment of interest and repayment of loan amount for all credits availed from the banks. A 50 per cent subsidy should be extended on port charges and export freight.Further, the State Government should reduce electricity charges for these industries by 25 per cent for one year and the Value Added Tax refunds on exports should be disbursed on a monthly-basis, within 10 days of submitting the claim, the associations said.
