ANNOUNCEMENT 26 Feb 2010
In February 2010, the government of India announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
Public Notice No. 46/2009
On 26 February 2010, the Government of India vide Public Notice No. 46/2009, extended the benefits of the Focus Product Scheme to toilet linen and kitchen linen. The benefits were granted with retrospective effect from 1 January 2010.
The FPS grants exporters of certain products with duty credit scrips worth upto the value of 2% of the FOB value of exports. The scrips may then be used to pay various dues to the government and, under some conditions, be transferred in the open market.
The FPS was replaced by the Merchadise Exports Incentive Scheme under the new Foreign Trade Policy 2015-20.