ANNOUNCEMENT 14 Jan 2009In January 2009, the government of India announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
Notification No. 78 (RE-2008) / 2004-2009
PUBLIC NOTICE NO. 133 (RE-2008)/2004-2009
On 14 January 2009, the Government of India via Notification No. 78 (RE-2008) / 2004-2009 read with Public Notice No. 133 (RE-2008) / 2004-2009, declared that products and sectors exporting to those markets notified under Appendix 37D, Table 12 of the Government's Handbook of Procedures would benefit from enhanced export subsidy.
The products in Table 12 include articles of apparel and clothing accessories under Chapters 61 and 62 of the HS Code, when exported to Japan, Australia and Brazil.
Such exports would be eligible for duty credit scrips valued at 2.5% of FOB value of prior exports, compared with the general admissible rate of 1.25% FOB value.