Four percent incentives levied on exports of cotton yarn with the aim of maintaining their prices within the domestic market might be withdraw soon by the government very soon.
Benefit of four percent duty provided to the exporters of yarn under the scheme named Duty Drawback might be withdrawn very soon, told sources, further telling that the government was willing towards imposing export duty over the cotton yarn.
On 21st April, another scheme of export sop on yarn called as DEPB, Duty Entitlement Pass Book was withdrawn.
Alongside, the exporters of yarn are being urged to register their textile dispatches which the Commissioner of Textile.
Incentives can be available by exporters either under Duty Drawback Scheme or DEPB.
On 6th April, Finance Minister discussed and expressed ways of checking yarn and cotton prices in an inter-ministerial meeting.
Prices of cotton yarn have been raised by more than 30per cent during the previous three months time.
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