ANNOUNCEMENT 31 Mar 2010In March 2010, the government of India announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
PUBLIC NOTICE No. 52 / 2009-14
On 31 March 2010, the Indian Ministry of Commerce & Industry added several products under 78 tariff lines at the HS 6-digit level to the Market Linked Focus Product Scheme (MLPFS) from 1 January 2010. Exports of these products are eligibile for export incentives when exported to Algeria, Egypt, Kenya, Nigeria, Tanzania, South Africa, Ukraine, Mexico, Brazil, Australia, New Zealand, Cambodia, Vietnam.
Further, 11 petroleum products at the HS 8 digit level have also been added for incentives when exported to Algeria, Nigeria and Mexico.
The MLPFS provides credit scrips worth 2% on exports of specified products to designated markets. The scrips can be used for the payment of import duties and other taxes. The scheme is part of the Foreign Trade Policy 2009-14 and was replaced by the Merchandize Exports Incentive Scheme (MEIS) under the new FTP 2015-20.