The government is in the process of formulating an alternative duty neutralisation
scheme for exporters and will announce the new scheme soon, commerce and industry
minister Kamal Nath said.
new scheme is in the final stage. It will be announced soon," he said at
the annual conference of United Planters'' Association of Southern India.
commerce ministry had asked the National Council of Applied Economic Research
(NCAER) and the Economic Law Forum to work out an alternative scheme, which would
neutralise all levies customs and excise duties along with state levies
while being WTO compatible.
objective of the DEPB was to neutralise the incidence of customs duty on the import
content of the exported product. The neutralisation is provided through grant
of duty credit against the export product. The scheme was to expire this year
and was extended for another year till March 31, 2008.
also see : General
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