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Major Export Promotion Scheme Proposed by Commerce Ministry to Push Shipments
May 30, 2019
As a part of the 100-day action plan prepared by the commerce ministry for the new government, a major export promotion scheme has been created which looks to facilitate the refunds of state and central taxes so that the shipments can be boosted for industry’s growth.
The new scheme which is said to be named Central and State Taxes and Levies Scheme will provide refunds of all the un-rebated taxes on inputs that are consumed in exports in various sectors. These include mandi tax, a duty of electricity, compensation cess coal, purchases from unregistered dealers, etc.
A WTO complaint production-based support scheme is also proposed by the ministry to boost outbound shipments.
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