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    REMISSION

    Outlay for export tax remission plans unlikely to change in Budget

    The government is unlikely to increase the allocation for key tax remission schemes for exporters in the 2024-25 budget, despite demands for more support. In the interim budget, ₹16,575 crore was earmarked for the RoDTEP scheme and ₹9,246 crore for the RoSCTL scheme. Exporters argue for adequate allocation to maintain zero-rated exports, a government policy, as merchandise exports rose 5.1% year-on-year in the first two months of this fiscal.

    Convicts in T P Chandrasekharan case not being considered for remission: Kerala govt

    The Kerala government on Thursday suspended three jail officials for allegedly including three convicts from the high-profile T P Chandrasekharan murder case in a remission list, amidst opposition outcry in the State Assembly accusing the Left dispensation of complicity in the process.

    Lok Sabha poll result personal, moral defeat of PM who sought mandate in his name: CWC

    The Congress Working Committee praised the party's Lok Sabha election performance, calling it a personal and moral defeat for the prime minister. Two resolutions were passed, with one urging Rahul Gandhi to accept the Leader of Opposition role. The CWC highlighted the rejection of divisive governance and the need to address shortcomings. They thanked voters for upholding democracy and emphasised the party's commitment to social justice and empowerment.

    Bilkis Bano case: One more convict moves SC seeking review of Jan 8 verdict cancelling remission

    One more convict in the Bilkis Bano case has moved the Supreme Court seeking a review of its January 8 verdict cancelling remission of his sentence, contending that it cannot be challenged based on the nature of the crime and "society's cry for justice".

    SEZs to get RoDTEP scheme benefits

    The scheme does not include all exports. Products exported from SEZs, EOUs, Electronic Hardware Technology Parks, Biotechnology Parks and Customs bonded warehouses; exports under Advance Authorisation (which allows duty-free imports of inputs for export production); re-exported imported goods are excluded.

    Consider giving refunds to exporters in cash for tax remission schemes: GTRI to govt

    The government is considering giving cash refunds to exporters instead of scrips for tax remission schemes, according to economic think tank GTRI. This move would improve cash flow for exporters, especially those facing a weak export outlook for 2024. Currently, refunds under the RoDTEP and RoSCTL schemes are issued as scrips, which can be sold to other importers. However, small exporters often receive less than the announced incentive due to discounted scrip sales.

    The Economic Times
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