Industry & Economy
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Textiles
DEPB rate cut for textiles decried
G. Gurumurthy
Coimbatore
,
Feb. 17
THE Powerloom Development and Export Promotion Council (Pdexcil) has decried the reduction in the rates of duty entitlement pass book (DEPB) being allowed for textile exporters.
When there has been no change in the specific customs duties applicable on textile items even after the recent changes made in the peak customs duty, there is no case for lowering the DEPB rates, the Pdexcil Chairman, Mr M. Senthil Kumar, has said. The Directorate-General of Foreign Trade (DGFT) had announced the DEPB rate reduction ranging from one per cent to three per cent from last year's levels and this has been done in the aftermath of the reduction in the peak customs duty from 25 per cent to 20 per cent and abolition of the special additional duty (SAD).
Though the DEPB rate reduction is seen justifiable considering the lowering of the ad valorem customs duty, still the specific customs duties applicable to the textile items remained at the same levels as they were earlier.
The retention of the specific customs duty at the existing levels would carry no justification for reducing the DEPB rates. Mr Senthil Kumar, who felt a reduction in the DEPB rate would adversely affect the textile exports, wanted the DGFT to restore the original DEPB rates.
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