AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
The Directorate General of Foreign Trade of the Ministry of Commerce and Industry via Public Notice 53/2015-2020 extended the validity of the duty credit scrips that are issued as incentives under the Merchandise Exports Incentive Scheme and the Service Exports from India Scheme from 18 months, from the date of issue, to 24 months.
These schemes grant duty scrips on the basis of the realized Free on Board value of exports of specified goods or services. The duty scrips can be used for payment of future liabilities of import duties, local excise duties, service tax expenses and other related fees.