• search

Exporters seek removal of Textile Committee cess

Written by: Staff

Coimbatore, Mar 20 (UNI) The Tirupur Exporters Association (TEA) urged the Union Minister for Commerce and Industry Kamalnath to remove the Textile Committee Cess and Education Cess for the benefit of the exporters while making amendments in Foreign Trade Policy (2004-09).

Stating that the Country's exports were touching 100 million US Dollars this year, TEA president A Sakthivel, in a letter to the Union Minister today, requested him to recommend to the Finance Ministry the removal of four per cent countervailing duty for the imports made under the EPCF scheme.

He said in the current budget, the service tax has been increased from 10 to 12 per cent. The exporters have pointed out to the Government that they cannot pay taxes levied locally. Hence they should be exempted from service tax.

Otherwise, the exporters must be allowed to give a bond on a stamp paper for the services received for the export production and it could be exempted, he said.

Mr Sakthivel said in target plus scheme, as per the policy, very few exporters are benefitting to the maximum extent, instead of this the TEA propose that the same account of money may be given back to the exporters by way of reduction in icome tax on an increase in exports,this will benefit maximum exporters.

He said the government is working out an alternative scheme in the place of DEPB scheme. In such a case, exim scrip may be given to exporters to the value of drawback if exporters opt for it. Then they can import raw material, capital goods, spares, accessories, ancillaries and other office equipments on duty free basis. Also the exim scrip can be tranferable without attracting income tax and sales tax, he added.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more