Business

FM assures exporters on-time payment of tax refund

PTI

Finance Minister Arun Jaitley on Monday assured exporters of timely payment of tax refund and promised steps to boost shipments, exporters body FIEO said. A delegation of exporters led by FIEO (Federation of Indian Export Organisations) President SC Ralhan, during the meeting, expressed concern about declining exports, the tough global scenario and domestic trading constraints. Ralhan told the Finance Minister that the order book position is not encouraging enough and impacts employment. He urged Jaitley to increase liquidity for the sector and suggested a timely refund of duty drawback, CENVAT and service tax within 10 days.“The FM was supportive of both the issues and ensured timely action on the matter," FIEO said in a statement.