Annual Trade Policy Supplement 2008-09
On April 11, 2008 was announced the annual supplement to the Foreign Trade Policy 2004-09 for the year 2008-09.
- Export Target set for year 2008-09 at $ 200 billion which is 30% higher than 2007-08.
- DEPB scheme has been extended till May 2009.
- Refund of service tax on almost all the services.
- Income tax benefit to 100% EOUs has been extended by Government.
- Coverage of FMS has been increased and additional 10 countries have been included. These are Mongolia, Bosnia-Herzegovina, Albania, Macedonia, Croatia, Honduras, Djibouti, Sudan, Ghana and Colombia.
- Split-up facility under DFIA Scheme introduced.
- Duty free import of samples has been increased from Rs.75, 000 to Rs.1, 00,000.
- Value of jeweler parcels, through Foreign Post Office is raised to US$ 75,000. Earlier it was from US$ 50,000.
- EOUs shall be allowed to pay excise duty on monthly basis, instead of the present system of paying duty on consignment basis.
- Customs duty payable under EPCG Scheme has been reduced from 5% to 3%.
- Setting up a new Export Promotion Council for Telecom Sector.