ANNOUNCEMENT 27 Jul 2021

India has announced a retrospective export incentive on certain medicaments exported between 2017 and 2020.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 01 Jan 2017 | Removal date: 31 Dec 2020

Tax-based export incentive

On 27 July 2021, the Indian Directorate General of Foreign Trade through Public Notice No. 18/2015-2020 announced a rebate of 3% on the exports of certain medicaments. The rebate will be available for exports made between the period 1 January 2017 and 31 December 2020.

The intervention is announced under the Merchandise Exports Incentive Scheme. The rebates will be issued as duty credit scrips which can be used for the payment of future import duty-related liabilities.

AFFECTED SECTORS

 

AFFECTED PRODUCTS