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'Withdrawal of duty sop on cotton exports a blow'
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SME Times News Bureau | 03 May, 2010
Terming government's decision to withdrawn the Duty Drawback on exports of cotton yarn a blow to exports, Texprocil, an international marketing organization recently urged the government to restore the scheme.
"By withdrawing the duty drawback on cotton yarn arbitrarily, the government has dealt a severe blow to export trade and gone against its own principle of exporting goods and not taxes," said Texprocil Chairman V.S.Velayutham.
The government had withdrawn the duty drawback on exports of cotton yarn last Thursday.
In a statement, Texprocil said that withdrawal of Duty Drawback rates on cotton yarn is also highly discriminatory as all other export products are eligible for the refunds.
The Texprocil Chairman said that the Duty Drawback Scheme was a time tested scheme aimed mainly at reimbursing the incidence of Customs and Excise Duties levied at the input stage of the product concerned.
"Further it is not an export subsidy contingent in law or in fact upon export performance. The WTO Agreement on Subsidies and Countervailing Measures (ASCM) clearly permits exemption or remission of prior stage cumulative indirect taxes or import charges levied on inputs that are consumed in the production of the export product," he added.
Velayutham stated that it was a matter of deep regret that the Government did not await the Report of the Expert Committee which is going into all the parameters like the price of inputs, including the incidence of input stage duty suffered in the manufacturing process of cotton yarn.
"Withdrawal of the scheme was unfortunate with long term implications for the healthy development of the Indian textile industry," he cautioned.
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DUTY DRAW BACK WITH DRAWL ON COTTON YARN EXPORTS
R.S.RAMAN | Wed May 5 08:55:46 2010
IT IS VERY UNFORTUNATE TO NOTE THAT MR.VELAYUTHAM, CHAIRMAN OF TEXPROCIL, HAS FORGOTTEN ABOUNT HOW THE OTHER MANUFACTURING SECTORS LIKE TERRY TOWELS & MADE UPS ARE SUFFERING BECAUSE THE YARN HAS BECOME SO EXPENSIVE & IN SHORT SUPPLY. THE YARN EXPORTED TO COUNTRIES LIKE CHINA WHO ARE GETTING YARN AT A CHEAPER PRICE COMPARE TO INDIAN MANUFACTIRERS. CHINA IS TRYINNG NOT ONLY TO COMPETE BUT ALSO TO FINISH INDIAN MANUFACTURERE USING OUR OWN YARN.IN ESPECIALLY TERRY TOWEL SEGMENT INDIAN TERRY TOWELS ARE MORE EXPENSIVE THAN CHINESE. I AM A BUYER BASED IN MALAYSIA. ALL THESE YEARS MORE THAN 15 YEARS I AM ONLY BUYINFG FROM INDIA. NOW I HAVE NO OPTION BUT TO BUY FROM CHINA OR PAKISTAN SINCE THE PRICE IS CHEAPER.
MR.VELAYUTHAM , BEING CHAIMAN OF TEXPROCIL SHOULD NOT ONLY LOOK IN TO THE INTEREST OF YARN MAUFCTURER, ALSO TAKE CARE THE INTEREST OF TOWEL & MADE UP MANUFACTURERES. HE SHOULD ALSO UNDERSTAND WITH SAME RAW MATERIA, BY DOING VALU ADDITION THE VOLUME OF EXPORTS ARE INCREASED & ALSO ENOUGH JOB OPURTUNITIES ARE AVALIABBE.
RAMAN
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