Last week, the revenue secretary said payment of the Goods and Services Tax (GST) would not be allowed through duty credit scrips issued under various export promotion schemes of the Foreign Trade Policy (FTP). This decision, unwittingly, could result in encouraging of import.
In the current FTP 2015-20, transferable duty credit scrips are issued to exporters under the Merchandise Exports from India Scheme against export of goods, under the Services Exports from India Scheme against export of services and under the post-export Export Promotion Capital Goods Scheme.
Beside, duty credit scrips issued in accordance with the earlier FTP 2009-14
Beside, duty credit scrips issued in accordance with the earlier FTP 2009-14
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