Govt mulls ways to enhance exports
In order to give a boost to the sagging economy and to improve credit flow, the government is exploring various options including “full reimbursement” of various imposts on exports and relaxed lending norms. The government is also working on an incentive scheme for the exporters which is in tandem with the WTO norms.
“The new scheme will be a dynamic one, so that all sorts of embedded taxes will be reimbursed once exporters bring them to notice. A government panel will examine their demand and take appropriate action. The idea, as we have stated, is that exports must be zero-rated as per the global best practices,” stated a source.