Exporters may get more sops: Nath

New Delhi: The government is preparing a Cabinet note on additional tax saving measures for exports and also proposing to give a sector-specific package for refund of taxes and levies to exporters hit by a sharp rise in rupee value, said Commerce and Industry Minister Kamal Nath.

“We are considering measures for refund and remission of taxes to ensure exporters get a level playing field,” Nath said,, admitting that his ministry was looking at “sector specific” measures.

Notably, the government had announced a Rs 1,400-crore package for exporters in July and exempted seven items from service tax.

Nath also said he was still hopeful of meeting the $160-billion export target.

Senior officials at Commerce Ministry, however, are not as optimistic as their boss, saying even $140 billion would be difficult.

Meanwhile, the Revenue Department has informed the Commerce Ministry that it is not in favour of refunding state-level taxes. In this regard, the Cabinet will take the call, a source in the government said.

Source: mumbaimirror.com