| Date: |
31-07-2015 |
| Subject: |
Directorate of Revenue Intelligence detects 470 cases of misuse of export incentives |
NEW DELHI: The Directorate of Revenue Intelligence (DRI) detected 470 cases involving Rs 4,087.12 crore in the last three fiscals related to misuse of export promotion incentives.
The CBI too has registered 16 cases worth Rs 78 crore during the last three years related to "misuse of customs and export promotion incentives", Commerce and Industry Minister Nirmala Sitharaman said in a written reply to Rajya Sabha.
There are reports that certain companies are indulging in fraudulent practices to capitalise on the customs and export promotion incentives as well as to bag special concessions given by the Directorate General of Foreign Trade (DGFT).
The minister also said that in special economic zones (SEZs), 13 units were found to be involved in fraudulent activities related to export and import in the last three years.
"Various government regulatory agencies e.g CBI, DRI, Customs and Central Excise and DGFT keep a regular watch and closely monitor various activities related to export and import, in order to keep a check on fraudulent practices," she said.
In an another reply Sitharaman said that in 2014-15, exports from SEZs accounted for 16.29 per cent of the country's total exports.
Exports from SEZs declined to Rs 4.63 lakh crore in 2014-15 from Rs 4.94 lakh crore in the previous year.
To another question, the minister said there is a proposal to re-visit the criteria for categorisation of industries in the country.
"The government has, at present, proposed to revise the investment limit to classify Micro, small and medium Enterprises and have invited comments from stakeholders in this regard," she said.
Bill for amendment in the Micro, small and medium Enterprises Development Act, 2006 has already been placed in Parliament, she added.
Source : economictimes.indiatimes.com
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