Export incentives to postal shipments to boost MSME sector
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New Delhi: In a bid to strengthen India’s e-commerce and MSME sectors, the government on Friday said it has extended export incentives to postal shipments, with effect from January 15.
The Central Board of Indirect Taxes and Customs (CBIC) said it has extended export-related benefits under the Duty Drawback, Remission of Duties and Taxes on Exported Products (RoDTEP) and Rebate of State and Central Taxes and Levies (RoSCTL) schemes to exports made through the postal mode in electronic form, with effect from January 15.
The incentives ate expected to significantly enhance competitiveness of MSME exporters, especially from smaller towns and remote areas, and give a major fillip to postal exports, Finance Ministry said in a statement.
“This landmark measure aims to provide a level playing field for exporters using the postal channel and to create a conducive and inclusive ecosystem for the growth of cross-border e-commerce. The initiative is expected to significantly enhance the competitiveness of MSME exporters, especially those located in smaller towns and remote areas, and give a major fillip to postal exports,” the statement added.
India currently has 28 Foreign Post Offices (FPOs) notified under Section 7 of the Customs Act, 1962.
