AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
On 31 March 2010, the Indian Ministry of Commerce & Industry added several products under 78 tariff lines at the HS 6-digit level to the Market Linked Focus Product Scheme (MLPFS) from 1 January 2010. Exports of these products are eligibile for export incentives when exported to Algeria, Egypt, Kenya, Nigeria, Tanzania, South Africa, Ukraine, Mexico, Brazil, Australia, New Zealand, Cambodia, Vietnam.
Further, 11 petroleum products at the HS 8 digit level have also been added for incentives when exported to Algeria, Nigeria and Mexico.
The MLPFS provides credit scrips worth 2% on exports of specified products to designated markets. The scrips can be used for the payment of import duties and other taxes. The scheme is part of the Foreign Trade Policy 2009-14 and was replaced by the Merchandize Exports Incentive Scheme (MEIS) under the new FTP 2015-20.
⚑ Please report this page in case you detect an inaccuracy in its content.