Two export schemes may shift out of Commerce Dept to ease process
The government is contemplating a revamp of the Department of Commerce and certain incentive schemes that fall under it, as it aims at administrative easing to boost exports and domestic manufacturing.
The commerce and industry ministry and finance ministry are discussing the idea of bringing the new exports incentives scheme — Rebate of State and Central Taxes and Levies (RoSCTL) — as well as the existing Advance Authorisation Scheme, within the remit of the drawback committee under the revenue department, said people aware of the matter.
At present, the Advance Authorisation Scheme is with the Directorate General of Foreign Trade (DGFT), an arm of the commerce and industry ministry. RoSCTL is a replacement of the DGFT’s Merchandise Exports from India Scheme (MEIS), which was challenged by the US last year for violating global trade rules. It will allow reimbursement of duties on export inputs and indirect taxes through freely transferable scrips.