www.scribd.com/doc/22346440
Ø
Govt
to continue tax refund scheme for exporters until December 2010
Ø
Widens
scope for products to be included for benefits under Focus Product Scheme
(FPS). Additional engineering products, plastic and some electronics get a look
in. Incentives under FPS raised from 1.25% to 2%.
Ø
Twenty-six
new markets have been added under Focus Market Scheme (FMS). Incentive
available under FMS raised from 2.5 per cent to 3 per cent.
Ø To aid technological
upgradation of export sector, EPCG Scheme at Zero Duty has been introduced
Ø Taking into account the
decline in exports, the facility of Re-fixation of Annual Average Export
Obligation for a particular financial year in which there is decline in exports
from the country, has been extended for the 5-year Policy period 2009-14.
support for Green products and products from North East
Ø To impart stability to
the Policy regime, Duty Entitlement Passbook (DEPB) Scheme is extended beyond
31.12.2009 till 31.12.2010
Ø To neutralize duty
incidence on gold jewellery exports, it has now been decided to allow Duty
Drawback on such exports
Ø To reduce transaction and
handling costs, a single window system to facilitate export of perishable
agricultural produce has been introduced
Ø To simplify claims under
FPS, requirement of “Handloom Mark’ for availing benefits under FPS has been
removed
Ø Income tax expemption to
100% EOUs and to STPI units under Section 10B and 10A of Income Tax Act has
been extended for the financial year 2010-11 in the Budget 2009-10
Ø In order to make India
World’s diamond hub, it’s planned to establish Diamond Bourses
Ø EOUs have been allowed to
sell products manufactured by the in DTA (domestic tariff area) up to a limit
of 90 per cent instead of existing 75 per cent, without changing the criteria
of ‘similar goods’, within the overall entitlement of 50 per cent for DTA sale
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(The
author writes on financial markets – especially, stocks, bonds and currencies
and Indian economy. He writes about changing tax policies that impact
individuals and corporates)
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