GSTnews item17 November 2015

Hike in duty drawback rates won't help much, say exporters

News Update

Hike in duty drawback rates won't help much, say exporters

Published Date: Nov 18, 2015
Source: ICAI PD Committee
Exporters are not impressed by the Centres' decision to increase duty drawback rates for merchandise exports of certain products. Terming the move a 'temporary measure', exporters have demanded the government should take more concrete measures to stem the fall in exports. Exports stood at $21.35 billion in October 2015 - a 17.53 per cent fall on a year-on-year basis. On Monday, the government had raised the duty drawback rates by two per cent for many sectors including engineering, marine and textiles. Besides, two weeks ago, the government had announced a revamped merchandise exports from India scheme (MEIS) for 110 additional products.
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