AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
On 12 January 2017, the Indian Ministry of Finance through Notification No. 3/2017 - Customs (NT) reduced the tax rebates under the Duty Drawback Scheme for the following items:
CENVAT credit is an input credit made available against input duties, such as excise duties and service taxes levied by the state, paid by manufacturers.
The Duty Drawback Scheme aims to provide a rebate of taxes paid on raw materials, indigenous or imported, to manufacture export goods and is calculated as a percentage of the value of the goods exported.
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