Govt withdraws DEPB benefits for cement a day after notifying it

[K.Karthik Raja]

Govt withdraws DEPB benefits for cement a day after notifying it
Tuesday, Jun 3
.
NEW DELHI - The government today withdrew tax benefits under Duty
Entitlement Pass Book scheme for cement exports, a day after notifying
it.
The amendments to DEPB scheme stands withdrawn with effect from
Jun 2,
Directorate General of Foreign Trade said in a public notice.
The DGFT did not given any reason for withdrawing the benefits.
The government had on Monday extended the benefits under DEPB
scheme to
cement exports.
The DEPB scheme neutralises the incidence of customs duty on
import content of export products.
The government had had banned cement exports in April in a bid to
moderate its prices. However, the ban has since been relaxed partially
by allowing
exports to Nepal and exports from ports in Gujarat.