Financial Daily from THE HINDU group of publications
Saturday, Jul 17, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Industry & Economy - Exports & Imports


Exporters want Centre to rebate input-stage VAT

Our Bureau

New Delhi , July 16

THE Federation of Indian Export Organisations (FIEO) has suggested that the Central Government should rebate all input-stage value added tax (VAT) that would be paid by the exporters in the manufacture of finished goods exported by them.

All States are expected to move to a VAT regime replacing the sales tax from April 1, 2005. Currently, most states do not neutralise or exempt the input-stage sales tax paid by exporters.

``We want the Centre to have a VAT component along with the excise and the customs components in the drawback schedule so that exporters can avail a single window system for getting refund of all taxes paid by them. The Centre and the States can then make appropriate adjustments between themselves,'' Mr Subhash Mittal, Vice-President, FIEO, told newspersons here.

He held that the Customs Department would be the most ideal department to provide such a `single-window' facility as the department has complete information over the export consignments.

Expressing disappointment that the Union Budget did not have any support measures for exporters, Mr Mittal held that more fiscal incentives are required for the exporting community if the country were to improve its share in the global trade. ``The Government must strengthen the exporters' hands to achieve more and not remain complacent over the growth numbers recorded in the recent years,'' he said.

A number of exporters, however, expressed scepticism over the willingness of the State Governments to sacrifice existing revenues, as the Centre would try to adjust the rebates (provided on input-stage VAT paid by the exporters) with the States.

More Stories on : Exports & Imports | Taxation

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Monsoon scene mixed, not as bad as 2002


RBI's Budget assessment `largely favourable': Chidambaram
Consumer electronics industry seeks correction of duty anomalies
Gulf boom fuelling replacement migration: Study
High-income class expanding fast: NCAER report
Inflation at 24-week high of 6.16 pc
AP gets Rs 1,200 cr from LIC
Deadline extended for emission limits in diesel generators
Italy keen on expanding trade ties
World Bank to hike funds for urban projects in AP
India Insure arranges hydrology cover for Malana Power
NTPC offering may be delayed beyond August
Clarification on transaction tax on Monday
States moot 3-slab VAT structure
Bangladesh calls for strategic tie-up in textile sector
A yen for correction spells orders for KG Info unit
CBS, Birla Institute in academic tie-up
Central fund to brand jewellery for exports
KCCI meet on development of Dakshina Kannada, Udupi districts
Excise duty hike puts watch industry in a bind
Patents office ready to grant EMRs
Assocham sets up panels on labour issues
Pvt sector asked to help rural entrepreneurs
As domestic, global price band widens — Rubber imports under OGL could turn viable
Exporters want Centre to rebate input-stage VAT
Bid to package Durga Puja as tourism event
Panel to probe HiTec City land deal with L&T



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line