[PTI] In a land mark move state Government of Maharashtra is offering a relief to exporters. Maharashtra Finance Minister Jayant Patil has assured that the refunds of the Value-Added Tax (VAT) to exporters in the State would start within four months.

Notably, exporters, who have no liability under VAT, are supposed to apply for the refund claim of VAT paid half yearly. Only 90 per cent of the eligible amount is refunded immediately, whereas the balance 10 per cent is still stuck up with the government posing a working capital crunch to the exporters.

Addressing an export award presentation function organised by Engineering Export Promotion Council (EEPC) here last evening, the Finance Minister pointed out to the problems faced by the industry as the amount is blocked for a long period.

On the concerns of the exporters regarding the long turn around time for vessels at Jawaharlal Nehru Port Trust (JNPT) compared to other ports of the world, Patil maintained that the government was seriously looking at a solution to the problem and reducing the time from the current 1.9 days at JNPT which caters to about 60 per cent of the container traffic in India.

Earlier, EEPC Chairman Rakesh Shah exhorted his peers to help India emerge as an EPO (engineering process outsourcing hub) in the world on the lines of BPO (business process outsourcing). Report by PTI

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