Chennai exporters to meet FM on Nov 23 for faster clearance of duty refunds
Updated: Nov 19, 2013 04:00:26pm
Chennai, Nov 19 (KNN) Exporters will meet Finance Minister P Chidambaram here on November-23 seeking his intervention for faster clearance of duty drawbacks from Chennai Customs.
The meeting, to be held under the aegis of the Federation of Indian Exporters Organizations (FIEO) is taking place in the backdrop of complaints of piling up of drawback claims worth over Rs 700 crore.
“We will be meeting the Finance Minister here on November 23 for his intervention in delay in getting back the duty drawback claims,” Director General and CEO of FIEO, Ajay Sahai told KNN.
“There are two main issues - lack of funds and manpower at the Chennai Customs. The delay in getting back the duty drawback claim is firstly due to lack of funds; and secondly because they are short staffed to disburse the drawbacks,” Sahai added.
According to a media report, non-availability of funds with the Customs could also be due to lower tax collections for the current financial year.
A delay in getting back the duty drawback claim has affected the livelihoods of nearly 3,000 exporters, as they do business on borrowed sums.
A FIEO official said that even though the issue was referred to the Chairman, Central Board of Excise and Customs, there was hardly any improvement. So far, the Customs have released only Rs.50 crore, said a media report.
According to the Indian customs drawback pendency report, Chennai Port has an outstanding sum of Rs 727 crore as on November 18.
Sahai also said that even other ports like Jawaharlal Nehru Port Trust, Delhi Customs and many other have some drawback issues. (KNN/SD)
The meeting, to be held under the aegis of the Federation of Indian Exporters Organizations (FIEO) is taking place in the backdrop of complaints of piling up of drawback claims worth over Rs 700 crore.
“We will be meeting the Finance Minister here on November 23 for his intervention in delay in getting back the duty drawback claims,” Director General and CEO of FIEO, Ajay Sahai told KNN.
“There are two main issues - lack of funds and manpower at the Chennai Customs. The delay in getting back the duty drawback claim is firstly due to lack of funds; and secondly because they are short staffed to disburse the drawbacks,” Sahai added.
According to a media report, non-availability of funds with the Customs could also be due to lower tax collections for the current financial year.
A delay in getting back the duty drawback claim has affected the livelihoods of nearly 3,000 exporters, as they do business on borrowed sums.
A FIEO official said that even though the issue was referred to the Chairman, Central Board of Excise and Customs, there was hardly any improvement. So far, the Customs have released only Rs.50 crore, said a media report.
According to the Indian customs drawback pendency report, Chennai Port has an outstanding sum of Rs 727 crore as on November 18.
Sahai also said that even other ports like Jawaharlal Nehru Port Trust, Delhi Customs and many other have some drawback issues. (KNN/SD)
Loading...
