New Delhi, June 4: The government is likely to set up a committee, headed by Planning Commission member Anwarul Hoda, to formulate a new tax neutralization scheme for exporters. The new scheme, the panel was told, should be a suitable replacement of the duty entitlement passbook (DEPB) scheme-a popular instrument of customs duty remission favoured by a majority of exporters. In the annual supplement to the Foreign Trade policy in April, The government had extended the DEPB scheme for one more year, despite the fact that the scheme's WTO-compatibility has been doubtful.
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