ICCI welcomes Policy Supplement 2008

Kochi, Apr 11(UNI) Indian Chamber of Commerce and Industry (ICCI) Kochi unit president R Mohandas today welcomed the reduction of import duty under the EPCG scheme, provision of incentives to promote exports of fresh fruits and vegetables, addition of 10 countries under Focus Market and Product Schemes and extension of DEPB scheme till May 2009 in the Policy Supplement announced for 2008.

In a statement here, he said payment of six per cent interest per annum on delayed refund of excise duty and CST to the exporters and widening of the list of ports under Export Promotion Schemes to reduce costs were steps in the right direction.

Procedural simplification measures like endorsing of supply invoice within 21 days by Central Excise and issue of installation certificate under EPCG Scheme by Central Excise within 30 days of giving intimation would be of advantage to exporters.

He urged the govenrment to exempt specified export related services from the purview of Service Tax.

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