India Extends Export Rebate Scheme
India recently extended its export rebate scheme until March 2024, allowing textile traders to continue receiving rebates on central and state taxes for their exports for several years, the Hong Kong Trade Development Council reported July 27. The maximum rebate…
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rate of 6.05% will apply to apparel exports and an 8.2% rate will apply to “made-ups,” which include home textile products such as bed linens, curtains, pillows and carpets, HKTDC said. The scheme is also expected to benefit input imports because exporters receive a “Duty Credit Scrip to the value of the embedded taxes and levies relating to any exported product,” the report said. The scrip can be used to pay customs duties on imported equipment “or other inputs or traded with other importers.”