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Synopsis
The scheme is touted as a replacement for the Service Export from India Scheme and is on the same lines as Remission of Duties and Taxes on Exported Products (RoDTEP) for goods exports.
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Aimed at refunding taxes already paid back to services exporters, DRESS is proposed to include all service exports created in India and exported from the country in modes 1 and 2 of service delivery.
NEW DELHI: Ahead of the new foreign trade policy, industy has proposed a new incentive scheme for services exports that would give higher benefits to exporters in the MSME sector.
The Services Export Promotion Council has suggested the government to consider a Duty Remission on Export of Services Scheme (DRESS) to refund taxes to services exporters wherein small and micro exporters would be eligible for a 7% incentive while the large ones would get 4%. The scheme is touted as a replacement for the Service Export from India Scheme and is on the same lines as Remission of Duties and Ta
Digital push: Five-year FTP likely to include guidelines to promote e-comm among exporters
February 14, 2021
As per UNCTAD estimates for 2018, the world market for e-commerce was $25.6 trillion×
Centre’s ‘One District One Product’ initiative, sale of GI products could get a boost through online exports The five-year Foreign Trade Policy (FTP), to be announced on April 1, 2021, is likely to come up with guidelines on e-commerce for exporters to remove regulatory bottlenecks and encourage exporters to use the online platform for increasing business, an official has said.
“Through e-commerce, not only can existing exporters reach out to more buyers but producers selling in the domestic market too could explore the option of going global.
Trade Promotion Council of India seeks incentives for SEZs in next foreign trade policy
SECTIONS
Last Updated: Feb 12, 2021, 04:53 PM IST
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Synopsis
The Trade Promotion Council of India said there is a pressing need to allow certain tax incentives in line with the global practice to the exports to Domestic Tariff Area, in order to ensure SEZ survival and its contribution to the exports.
Reuters
NEW DELHI: The Trade Promotion Council of India (TPCI) on Friday suggested the commerce ministry to announce measures such as incentives for special economic zones (SEZs) in the next foreign trade policy (FTP) with a view to boost the country s exports. FTP (2020-25) is under formulation by the ministry.