Aug 18, 2021 02:12 PM IST
Exporters across sectors complaint that many products have been left outside the ambit of India's largest export incentive scheme, while experts say budgetary allocations and not trade needs decided rates.
- Aug 17, 2021 03:47 PM IST
The government is betting on the scheme, a long time in the coming to make India's exports more competitive in the global arena. The tax refund rates revealed by the Commerce Department show that exporters will be given tax refunds in the range of 0.5-4.3 percent.
- Aug 13, 2021 01:20 PM IST
India's foremost export incentive scheme became fully active on August 17, eight months after it had first gone live. We take a deep dive into how RoDTEP will impact India's foreign trade in the near to long term and why the government took so long to announce the tax rebate rates.
- Jun 18, 2021 10:08 AM IST
Delay in announcing incentives for outbound shipments is hurting interests of exporters
- Mar 31, 2021 09:50 PM IST
The yet-unfinished work of finalising tax refund rates for exports under the new Remission of Duties and Taxes on Exported Products scheme has derailed the government's plan to unveil a new FTP. The lack of a clear consensus on whether to continue with export incentives for services exporters have also contributed to the latest decision.
- Mar 22, 2021 06:43 PM IST
Exporters complain that lack of clarity on tax refund rates under RoDTEP, 18 months after it was announced, continues to affect their business.
- Feb 18, 2021 12:47 PM IST
The government's largest export incentive policy, the Merchandise Exports from India Scheme (MEIS), has been discontinued from January 1, 2021. Covering upto 75 per cent of India's total exports, it was a crucial support to exporters. Now, even as tax refunds under MEIS remain stuck with the government, exporters say that it's replacement, the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, is unfinished and insufficient.
- Oct 21, 2020 03:07 PM IST
The sectors for which the rates would be fixed initially might be automobiles, readymade garments, and iron and steel. The newly applicable reimbursements will kick in starting January 2021 under a new scheme.
- Sep 16, 2020 02:25 PM IST
Earlier this month, the government capped export incentives under the MEIS at Rs 2 crore per exporter on outbound shipments made during the period from September 1 to December 31, 2020
- Jul 28, 2020 09:21 PM IST
In May, the Department of Revenue had conveyed that it might not be feasible to exceed MEIS allocation beyond Rs 9,000 crore for 2020-21.
- Jul 28, 2020 02:30 PM IST
According to an office memorandum of the Directorate General of Foreign Trade (DGFT), the Department of Revenue in May had conveyed that it may not be feasible to exceed MEIS (merchandise export from India scheme) allocation beyond Rs 9,000 crore for 2020-21 (up to December 2020).
- Apr 16, 2020 02:20 PM IST
The government after approving a new scheme - remission of duties and taxes on export products (RoDTEP) - in March this year has stated that MEIS will be phased out after rolling out of this new scheme.
- Sep 16, 2019 09:23 AM IST
All the measures announced are unlikely to make anything more than a marginal impact on the export performance.
- Jun 11, 2019 03:00 PM IST
Key onion growing states such as Maharashtra, Karnataka and Andhra Pradesh are reeling under drought conditions this year.
- Sep 21, 2018 03:16 PM IST
Earlier in July, the government enhanced the duty benefits to 10 per cent under the Merchandise Export from India Scheme (MEIS) for certain agriculture and dairy sector items.
- Feb 15, 2016 10:08 PM IST
"We may end up with exports of around USD 260 Billion in 2015-16," exporters' body FIEO President S C Ralhan said.
- Nov 22, 2015 11:54 AM IST
A host of incentives including extension of 3 percent interest subsidy will help in boosting exports, which are in negative zone since December last year, Commerce and Industry Minister Nirmala Sitharaman said.
- Nov 03, 2015 04:33 PM IST
The Cotton Textiles Exports Promotion Council (TEXPROCIL) has welcomed the inclusion of exports of cotton fabrics –both woven and knitted - and ...
- Oct 31, 2015 01:51 PM IST
On October 7, the Commerce Secretary after holding consultations with exporters has informed that the allocations for export incentive schemes in the current financial year has been increased to Rs 21,000 crore, from earlier Rs 18,000 crore.
- Jul 22, 2015 05:44 PM IST
The Cotton Textiles Exports Promotion Council (TEXPROCIL) has welcomed the inclusion of exports of cotton fabrics – both woven and knitted - to ...
- May 18, 2015 05:57 PM IST
Commerce Secretary said that adoption of standards will not only help in boosting exports but will also protect the consumers from sub-standard imports thereby facilitating domestic manufacturing.
- Apr 01, 2015 07:01 PM IST
Commerce Secretary Rajeev Kher says the Merchandise Exports From India Scheme (MEIS) is different from the export promotion sops that existed earlier and exporters now stand to gain much more.
- Apr 01, 2015 04:36 PM IST
To address the infrastructural bottlenecks, complex procedures and manufacturing hurdles, the new trade policy announced two new schemes -- Merchandise Exports From India Scheme (MEIS) and Services Exports From India Scheme (SIES).