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ICEA estimates that its proposed RoDTEP rates will deliver an annual incentive of close to Rs 120 crore, based on remission of big-ticket items such as indirect taxes on transport and power, and embedded taxes on inputs. ....
Exporters await implementation of last year’s budget announcement, pin hopes on new schemes Synopsis The impact of the pandemic was visible in the degrowth in major product categories for exports last year. With supply chain issues and lockdowns across the world still playing havoc, all eyes are now on the government to provide succor. The pandemic had a debilitating impact on the country’s exports for most part of last year. Except for the positive momentum in September when exports moved up 5.99%, the performance in other months reflected the trail of devastation caused by the virus outbreak. December showed an increase, albeit marginally, at 0.14%. Sectors such as petroleum products, leather and leather manufactures, marine products and coffee were among some of the ....
Tax experts said many exporters are already facing a lot of trouble and with some of the existing schemes already under litigation, even RoDTEP could present legal challenges for the government. ....