Thursday, July 19, 2007
Nath Asks For PM''s Intervention For Quick Tax Relief To Exporters
New Delhi: Due to fall in growth of exports in rupee terms, commerce minister Kamal Nath has sought Prime Minister Manmohan Singh''s intervention for speedy notification of service tax waiver for exporters. Earlier, the minister had announced the steps in the annual supplement to the Foreign Trade Policy in April, and was to be implemented within a month. The move was aimed at benefitting exporters as the rupee has risen by 6-14% against major currencies such as the US dollar, pound and euro, since August last year. During April-May 2007-08, exports rose 18% in dollar terms, but merely 6% in rupee terms.
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