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Government Announces Fresh Rs. 8,500 cr Worth Incentives for Exporters
December 07, 2017
To give a boost to the export industry in India, the center has decided to offer additional benefits worth Rs. 8,450 crores to the exporters. In addition to that, it’s decided to support the MSME and labor-intensive sectors as well.
This decision was taken during the mid-term review of the Foreign Trade Policy (FTP) (2015-2020) which initially was meant to take place around the time when GST was introduced i.e. July 1 but was postponed with the understanding that the new taxation system should settle down first.
As per the revised FTP, the government has increased the incentives under the Merchandise Exporters from India Scheme (MEIS) to 4% from the previous 2%.