Appreciating the Revenue Secretary for consenting to Fieo's plea for extending (by three months) the Duty Entitlement Passbook (DEPB) scheme, Mr Ramu S. Deora, President, Federation of Indian Export Organisations (FIEO), called for the relevant notification to be issued immediately so that the uncertainty over the extension is brought to an end.
The FIEO President also suggested that the DEPB scheme should be allowed to continue till the introduction of the goods and services tax (GST), as it would not be possible to fix the drawback rates for all the products for which DEPB rates exist in the short span of three months.
In the long run, Mr Deora feels that the government should definitely bring all products under the All Industry Duty Drawback Scheme, and should make the industry bodies a party while fixing rates to ensure accuracy of data and transparency.
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