Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Remission of tax on exported products welcome, says TEA

Mar 13, 2020, 19:20 IST

PTI

Coimbatore, Mar 13 () The Tirupur ExportersAssociation (TEA) on Friday thanked the cabinet committee oneconomic affairs for giving approval to remission of dutiesand taxes on exported products (RoDTEP), which, theassociation said, was a great relief to the knitwearexporters.

At present, GST taxes and import or customs dutiesfor inputs required to manufacture exported products areeither exempted or refunded.

However, certain taxes/duties/levies are outside GST,and are not refunded for exports such as VAT on fuel used intransportation and duty on electricity used duringmanufacturing, TEA president Raja M Shanmugham said in astatement.

These would be covered for reimbursement under theRoDTEP scheme and the rebate would be claimed as a percentageof the freight-on-board value of exports, he added. NVMNVG NVG

(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)