India's export incentive scheme called Merchandise Exports from India Scheme (MEIS) will be scrapped and replaced with a new duty refund scheme called Rebate of State and Central Taxes and Levies (RoSCTL).
The commerce ministry has circulated a Cabinet note to phase out the flagship Merchandise Exports from India Scheme (MEIS) and move to a more WTO-compatible regime, as countries like the US have challenged India’s export “subsidy” programmes, a source told FE.
Rising domestic demand, spurt in exports push revival.
India and Benin on Monday signed an MoU on Cooperation in the field of Export Credit and Investment Insurance.
India’s leading apparel retailers are expecting a revival in sales in the festive season on backdrop of low business for over three quarters now.
The Divisional officer of CGST Commissionerate in Coimbatore has nabbed a tax consultant for allegedly defrauding the department of ₹36 lakh.