ANNOUNCEMENT 10 Jul 2013In July 2013, the government of India announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
On 10 July 2013, the Ministry of Commerce and Industry published the Notification No.19(RE 2013)/2009-14, amending the Foreign Trade Policy 2009-2014. Within the trade policy, as stated in the Handbook of Procedures, 158 exported products (at HS 6-digit level or higher) from sectors such as engineering and electronics were added to those eligibile for benefits under the Focus Product Scheme. Products covered under the Focus Product Scheme are entitled for 2 per cent duty credit scrip.
The notification took effect on 15 August 2013.
The Focus Product Scheme has been replaced by the Merchandise Export Incentive Scheme (MEIS) under the new Foreign Trade Policy 2015-20 effective from 1 April 2015.