GOVERNMENT EXTENDS EXPORT BENEFITS FOR CHEMICALS, PHARMA
News:
The Government of India extended export benefits under the tax refund scheme to chemicals and pharma to boost shipments of the goods. Benefits will be available from December 15 2022 to september 30, 2023. The move will impart further competitiveness to exports as exports are facing headwinds due to global factors
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While this has been a long due demand from the industry, the financial implications will not be as significant as the erstwhile MEIS benefits had higher financial implications (2-5% of revenues) whereas the said RoDTEP benefits are much lower as per the management commentary of various pharma and chemical companies
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