« Top Headlines » Open DEMAT Account in 24 hrs  Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch  Top 10 income tax changes from 2024 to look out for while filing ITR in 2025  15 income tax rule changes in 2024 that will impact your ITR filing in 2025   How to check income tax return (ITR) status  Income tax rules: How much cash can you receive in one day to avoid an I-T notice?  Tax saving tips: How you can reduce tax burden under the new regime «  Be courteous: FM tells Income Tax dept... Direct taxes likely to be top earner... » Duty drawback rates may be hiked to help exporters June, 09th 2007 The finance ministry is considering a suggestion by the commerce ministry to enhance duty neutralisation rates to make up for the 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 the finance ministry and the RBI for enhancing the duty entitlement passbook scheme (DEPB) and drawback rates to 4-5 per cent, Federation of Indian Export Organisation (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 on a par with what the foreign currency non-resident account holders get.   Gupta said Commerce and Industry Minister Kamal Nath had convened a meeting with exporters on June 13 to review the situation.   The FIEO president said he had warned the government that the much touted export target of $160 billion for this year would not be met if immediate steps were not taken to neutralise the 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, he said.