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New Delhi, April 6 The Government must spell out a roadmap for phasing-in a comprehensive duty neutralisation scheme to replace the existing duty entitlement passbook (DEPB) scheme, the Federation of Indian Chambers of Commerce and Industry (FICCI) has said. Ahead of the announcement of the annual supplement later this week, FICCI has, in its submissions to the Government, said that the new scheme should work on the fundamental principle that duties and levies should not be exported. In the absence of a suitable scheme for replacement of DEPB, the Chamber has suggested that the existing DEPB scheme should be continued till the goods and services tax (GST) is introduced in 2010. FICCI has also made a case for lowering the transaction cost for exporters. The Chamber has called for simplification of import and export procedures.

Citing the World Bank study, FICCI said that the transaction cost of exporting a container from India was $844, whereas it was $390 in China; $432 in Malaysia; $515 in Pakistan; $416 in Singapore and $615 in Thailand. Unshackling of controls and simplification of procedures were key to the competitiveness of the country’s exports, the Chamber has said. On the export promotion capital goods (EPCG) scheme, FICCI said that the net saving to exporters from the scheme has reduced as the duty level has come down to 7.5 per cent on various capital goods. The Government should consider having zero customs duty under the scheme to encourage exporters to utilise EPCG benefits, the Chamber has suggested.

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