‘Andhra Pradesh a model on VAT refunds’

Identifying the inordinate delay in VAT refunds by many of the States as the biggest hurdle for the exporting community, coming on the back of a sharp rupee appreciation, high export credit cost and rising raw material prices (particularly for engineering exporters), the Engineering Export Promotion Council (EEPC) has developed an in-house a Best Practices manual, culled from the experiences of some of the States such as Andhra Pradesh.

Talking to Business Line here on Tuesday, Mr Rakesh Shah, Chairman of EEPC, said blockage of funds, especially for the micro and small and medium enterprises, for more than two consecutive years amounted to a “death warrant”.

Source : The Hindu BusinessLine, India, dated 28/11/2007