RoadTape Gift Possible To Exporters On Independence Day
Roadtape gift possible to exporters on Independence Day, also preparing to bring new foreign trade policy by mid-September.
Commerce Secretary BVR Subramaniam has said that the government may announce the Remission of Duties and Taxes on Export Products (Roadtape) by the end of this week for export promotion.
The Secretary said that the new foreign trade policy would also be announced by mid-September. The foreign trade policy is likely to be notified by the end of August and will be launched in mid-September.
The roadtape scheme will be deemed to be applicable from January 1 this year, but its rates have not been announced yet.
Due to this, the exporters are not getting any refund for the last several months.
Under Roadtape, the taxes incurred in preparing the export goods will be refunded to the exporters. It will replace the Merchandise Export from India Scheme (MEIS).
The scheme will be announced by the end of this week.
In a conversation with the entrepreneurs on Wednesday, the Commerce Secretary said that the incentive amount under the Roadtape scheme was less earlier.
The scheme may be announced by the end of this week at the earliest.
Under the roadmap, VAT on fuel used for transportation of goods, mandi tax, duty on electricity used in the production of export goods, and other such duties will be refunded to the exporters.
He told that India is able to export only 30 percent of the countries of the world.
The Commerce Secretary informed that the commercial branches attached to the Embassies and Consulates of India across the world have been given a target to increase exports in the respective country.
They have been asked to give information about the opportunities and constraints of exports in those countries.
The Secretary said that the Ministry of Commerce and Industry has prepared a roadmap to take the export of goods to one lakh crore dollars by the year 2028.
Gold Price On 11 Aug: Gold price rises, silver also shines, know the latest rate.
Gold and silver prices rose on Wednesday. According to HDFC Securities, on Wednesday, the price of gold in the national capital Delhi saw an increase of Rs 159 per 10 grams.
Due to this, the rate of gold in the city was reduced to Rs 45,130 per 10 grams. In the previous session i.e. on Tuesday, the rate of gold was at Rs 44,971 per 10 grams.
Similarly, silver has seen an increase of Rs 99 per kg. Due to this, the price of silver in the city reached Rs 61,250 per kg. In the previous session, the price of silver was at Rs 61,151 per kg.
