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10 Jul 2020, Edition - 1823, Friday

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Coimbatore

CBEC assures to take duty draw back rate issue

Covai Post Network

Central Board of Excise and Customs (CBEC) has assured to take up the issue of demand from the exporters for revisit the reduced Duty Drawback rate.

The assurance was given to A Shaktivel, Regional Chairman of Federation of Indian Exporters’ Organisation, Southern Region, when he met CBEC Chairman, Vanaja N. Sarna recently. He has requested for her urgent intervention to reinstate the duty draw back as well as continuation of ROSL, a FIEO release said.

“CBEC Chairman was receptive to the issues and assured that she will recommend it strongly as system of GST refund is not ready,” Shaktivel said in the release.

FIEO is receiving representations from large number of exporters of all sectors including textiles, leather, agro, pharma stating that they will lose their competitiveness of their products to other competing countries due to substantial reduction of duty drawback.

This is shocking as exporters who have already committed export orders and are already facing issues regarding timely refund of GST.

Shaktivel also requested Sarna for considering the suggestion of providing upfront GST refund to the exporters based on GSTR-1 & GSTR-3B submission.

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