Finance Minister, Prime Minister urged to intervene
KOTTAYAM: Indian Block Rubber Processors Association chairman and member, Rubber Board, K.K. Abraham has sought immediate intervention on the part of the authorities to stall the proceedings against exporters by the Customs authorities for repayment of the `duty drawback' which they were enjoying for the past 18 months.
According to Mr. Abraham, the Finance Ministry had, as per their order No.36/2005CUS(NT) dated 2 May 2005, included natural rubber among the products which enjoyed one per cent `duty drawback.'
Till the last month, exporters from India sent 1.28 lakh tonnes of natural rubber to the international market.
The `duty drawback' on this count was pegged at Rs.10.40crore.