ANNOUNCEMENT 17 Dec 2018

An export incentive of 5% has been provided on Sal oil, Kokam oil and Mango Butter.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Public Notice 60/2015-2020 - 17 December 2018
http://dgft.gov.in/sites/default/files/PN%2060%20dt.%2017.12.2018-english_0.pdf

Inception date: 17 Dec 2018 | Removal date: 31 Dec 2020

Tax-based export incentive

On 17 December 2018, the Indian Ministry of Commerce and Industry through Public Notice 60/2015-2020 introduced an export incentive at the rate of 5% on Sal oil, Kokam oil, and Mango Butter. The incentive is provided under the Merchandise Exports Incentive Scheme (MEIS) of the Foreign Trade Policy 2015-2020. 

The incentives are calculated on the FOB value of such exports and are issued as duty credit scrips which can be used for the payment of future import duty related liabilities. 

On 31 March 2020, the Ministry of Commerce and Industry announced that the existing Foreign Trade Policy 2015-2020, which was to expire on 31 March 2020, will be extended till 31 March 2021.

On 1 September 2020, the Ministry announced that incentives under the MEIS will be available until 31 December 2020.

AFFECTED SECTORS

 

AFFECTED PRODUCTS