Automotive Tyre Manufacturers’ Association (ATMA) today said it has requested the government to extend the Duty Entitlement Passbook (DEPB) scheme beyond its deadline on June 30, 2011, to continue availing tax benefits for exports.
In a letter written to the Commerce and Industry Minister Anand Sharma, ATMA Chairman Neeraj Kanwar said the domestic industry is expanding its capacity, of which a substantial part will have to be exported.
“In such a scenario, to help exporters to be internationally competitive, the existing DEPB scheme needs to be extended…it is our earnest request that till such time the replacement of DEPB scheme takes place and becomes user friendly, DEPB scheme may please be extended further,” he added.
Under the DEPB, exporters get tax rebates of 8-10 per cent of the value of the shipment.
