ANNOUNCEMENT 04 Aug 2010In August 2010, the government of India announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
PUBLIC NOTICE No. 88 / 2009-14
On 4 August 2010, the Government of India, vide Public Notice No. 88 / 2009-2014, allowed certain petroleum products to benefit from the Advance Authorisation scheme for duty-free import of inputs, provided that the export of the resultant product add 8%.
The Advance Authorisation scheme allows duty-free import of inputs that are to be physically incorporated in an export product and typically imposes a value addition requirement of at least 15%.