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Expectations such as abolition of MAT and Dividend Distribution Tax for special economic zones have not materialised
The commerce ministry is working on amendments to the Foreign Trade Policy that may take effect later this month
RBI has issued revised instructions to this effect through a circular dated March 12, 2013
The controversial circular comes just a few days before announcement of major amendments to the Foreign Trade Policy
Despite amendments, the scheme looks unattractive as it requires upfront payment of duties and a complex way to get it back