Wednesday, May 04, 2005
Wednesday, May 04, 2005 |
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Staff Reporter
TIRUPUR: While welcoming the Centre's decision on reverting to payment of duty drawback on value basis instead of on weight basis, the Tirupur Exporters' Association (TEA) on Tuesday said that there was a strong element of disappointment due to low rates of drawback rate and inadequate cap per piece of garment.
According to A. Sakthivel, President, TEA, exporters are disappointed that their request to restore the drawback rate to around 10 per cent has not been favourably considered. The ceiling of Rs. 19 per piece would wipe out the advantage that knitwear exporters had gained on account of payment on value basis. Fears of collusion between Indian exporters and importers abroad by way of issue of false invoices for small gains were unfounded, Mr. Sakthivel said. If ceilings were necessary, these could be imposed in the case of exports to Singapore or Gulf countries which did not have import duty on garments.
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