Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals
  Income Tax Return: 5 lesser-known tax-saving tips from Section 80
 Income Tax Return: 5 lesser-known tax-saving tips from Section 80
 Why you need not rush to file your ITR immediately
 Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing
 Section 80DDB tax benefits for specified illnesses: 5 things to know
 Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes
 ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal
 How To Save Tax For Salary Above 15 Lakhs?
 Tax Saving: Top 5 investment options to save maximum tax in 2024
 5 HRA tax exemption proofs you must have in case income tax dept asks

DEPB rates may be hiked to help exporters
June, 11th 2007

The finance ministry is considering a suggestion by the commerce ministry to enhance duty neutralisation rates to make up for revenue lost by exporters due to sharp appreciation in the rupee.

Commerce secretary GK Pillai has informed us that serious discussions would be initiated with finance ministry and RBI for enhancing the DEPB and drawback rates to 4-5%, Federation of Indian Export Organisations (FIEO) president Ganesh K Guta said here.

Another proposal to compensate exporters in the backdrop of a fluctuating currency is that they may be paid interest on their export earners foreign currency account at par with what the foreign currency non-resident account holders get.

On Thursday, textile minister Shankarsinh Vaghela had told exporters in Tirupur that the finance ministry was considering increasing the duty drawback rates and reducing the interest rate on export credit as a relief to the exporting community.

Gupta said commerce and industry minister Kamal Nath has convened a meeting with exporters on June 13 to review the situation. The FIEO president said he has warned the government that the much touted export target of 160 billion dollars for this year would not be met if immediate steps were not taken to neutralise rupee impact on exporters. A severe impact will be visible on the exports by July-August. The worst hit sectors are handicrafts, textile, leather, gems and jewellery and chemicals and most of these are employment intensive, he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting