The Central Committee of the All Kerala Timber Import Association has said that its members have decided to stop import of timber through the Kochi port in protest against the authorities blocking duty refunds.
Timber importers are now stipulated to pay 9.4 per cent of the value of the timber imported as advance Customs duty. As the imported items are sold, the trade gets back four per cent of the amount as duty refunds.
Though timber merchants in Kerala used other ports in the country for import till about five years ago, the business shifted to Kochi for the convenience of small-time traders.
The timber traders said in a press release that they were in serious trouble as duty refunds for the whole of last financial year have been blocked.
The Association also alleged that duty refunds were being made on time in other States.
Business Standard 7, August
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