Exporters hail removal of VAT

The Punjab government's decision to remove VAT from the transfer of duty entitlement pass book (DEPB) and duty free replenishment certificate (DFRC) in the budget 2006-07 has been hailed by exporters in the state.

"Now exporters will no longer be required to pay any tax on the sale of DFRC and DEPB," Federation of Indian Exporters Organisation Executive Member Satish Dhanda said here today.