The Hindu Business Line : Revised DEPB rates on marine products in abeyance

THE Government has decided to keep in abeyance until further orders its decision concerning the retrospective applicability of the revised 5 per cent duty entitlement passbook (DEPB) rate on certain marine products.

The Directorate General of Foreign Trade (DGFT) had on June 21, announced through a public notice that the DEPB rate of 5 per cent would be effective from May 3, 2003 in respect of fish and fish products (including aquatic animal products of marine or fresh water origin) in processed, preserved and frozen form.

Informed sources said that the Marine Products Export Development Authority had on May 3, made a representation for an upward revision in the DEPB rate.

The main issue confounding the Commerce Ministry is whether the upward revision in rate can be allowed from the date on which the representation was made.

The country's marine sector registered an export turnover of $1,218.76 million during April-February 2004 against $1,303.57 million recorded during April-February 2003.

More Stories on : Aquaculture | Taxation

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
`Inefficiency of co-ops hits farmers the hardest'

Rice procurement to touch 225 lakh t

Mills seek total ban on wheat exports

Revised DEPB rates on marine products in abeyance

Rubber prices rule steady

Iraq losing taste for Indian tea

Plea for more Cauvery water

Gundlakamma project gets green signal

2-day convention on gold from tomorrow

FCI bond market foray on hold

TNAU to market `coconut tonic'

Corn may rule firm on rising demand — User industries face difficulty in finding alternatives