Renewal of DEPB essential to meet export target: MR Khambete

The Chamber of Small Industry Associations (COSIA) has requested the Centre to extend the the Duty Entitled Pass Book (DEPB), a tax refund scheme for exporters, by another three years.

The renewal of the DEPB was absolutely essential to meet the export target, MR Khambete, President of the city-headquartered COSIA, said in a release here.

The demand has been forwarded to the Centre, he said.

The scheme, under which exporters get refund of duties on import content of their export products, ends this month and the Government has indicated that it will be withdrawn.

Amongst other incentives, DEPB scheme is most beneficial to boost exports, Khambete said. "The proposed withdrawal is a matter of concern for exporters, particularly those in the Micro, Small and Medium Enterprises (MSMEs)."

The Government has fixed an export target of $500 billion within the next three years. Continuation of the scheme, at least for the next three years, will help achieve the ambitious target, he added.