To boost exports, the Government on Saturday brought more items under the duty drawback scheme.
The rationalised scheme for tax refund to exporters will come into effect from September 21, a Finance Ministry release said.
The decision was taken after taking into account the recommendations of the committee headed by Planning Commission Member Saumitra Chaudhuri to suggest duty drawback rates on the basis of parameters such as prevailing prices of inputs, rates of duty and tax, as well as the value of export goods.
The Finance Ministry statement also announced a three-month extension for the panel’s term for “expeditiously addressing exporters concerns.”
India’s exports rose to a two-year high of 13 per cent in August.