<p> The exporters have been demanding that the tax-refund Duty Entitlement Pass Book (DEPB) Scheme, which is set to expire by the end of this month, should be extended.<br /><br />Under the 14-year-old DEPB scheme, the government spends annually about Rs 8,500 crore for reimbursing exporters on the taxes paid on import equivalent content of export products.<br /><br />The main beneficiaries of the DEPB scheme are engineering, automobile and chemicals sectors. Though India’s exports have shown a remarkable performance, growing by 54 per cent between April-July 2011 to $108.3 billion, there are concerns that the momentum may not be sustained.</p>
<p> The exporters have been demanding that the tax-refund Duty Entitlement Pass Book (DEPB) Scheme, which is set to expire by the end of this month, should be extended.<br /><br />Under the 14-year-old DEPB scheme, the government spends annually about Rs 8,500 crore for reimbursing exporters on the taxes paid on import equivalent content of export products.<br /><br />The main beneficiaries of the DEPB scheme are engineering, automobile and chemicals sectors. Though India’s exports have shown a remarkable performance, growing by 54 per cent between April-July 2011 to $108.3 billion, there are concerns that the momentum may not be sustained.</p>