The Federation of Indian Export Organisations (FIEO) has once again urged the Centre to expedite the release of duty drawback claims as it has touched Rs.10,100 crore at the national level.
FIEO has been raising concern over the delay in refund of duty drawback for the goods exported through sea and air ports, as liquidity is a big issue for exporters and it would impact future shipments and fund flows.
Citing the Central Board of Excise and Customs (CBEC) website, a FIEO official said: “We are talking about the duty drawback pendency claim of Rs.10,177.50 crore since November. This figure is mentioned in the CBEC website and not provided by us. We are requesting the Centre to help the exporters to enable them to compete at the global level when the market conditions are gloomy.”
At the national level, from April 2013 till March 12, 2014, CBEC has paid Rs.11,511.13 crore against Rs.9,666.38 crore paid for the corresponding period last year. The pendency is Rs.10,177 crore for 12.41 lakh shipping bills.
Regarding the pendency at the Southern ports, he said CBEC till date had paid Rs.5,885.86 crore against Rs.4,721.98 crore for the corresponding period last year and the outstanding amount is Rs.3,168.64 crore.
Talking to The Hindu, a Custom House agent said that there has been a slow down in the refund of duty drawback claims since November. Though the CBEC claims that there has been a 27.4 per cent increase in the payout for the current year, it includes payment made for January-March 2013 period in the first quarter of 2014 and also due to inflation.
Source:- thehindu.com
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