RTTNews - The Commerce Ministry may pressurize the Finance Ministry to refund local levies, like octroi and mandi tax, to exporters at next month's meeting of the Empowered Committee of State Finance Ministers, reports PTI.
Exporters are facing tough times due to global slump in demand, and consequently are demanding refund of state indirect taxes, such as electricity duty and entry tax. These taxes add 3% to 5% to the cost of exports. They demand a mechanism for refunding state taxes to be in place till the unified Goods and Services Tax (GST) regime is introduced, which may subsume these levies. The Commerce Ministry wants state-level taxes refunded as the step will increase the competitiveness of Indian exports.
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