1 Additional benefit of 2% bonus, which allows the existing benefits of 5% / 2% under Focus Product Scheme, for about 135 existing products, which suffered due to recession in exports. Major sectors include all elements of craft, silk carpets, toys and sporting articles (of which all previous claim for 5% benefits were), leather and leather shoes, hand-woven fabrics and technical elements including bicycle parts and grinding media balls (all of which were earlier eligible for 2 % power).
2 256 new products added under FPS (at 8 digit level), which is entitled for benefits @ 2% of FOB value of exports to all markets. Major Sectors / Product Groups are Engineering, ready-electronics, rubber and rubber products, other oil meals, Leather, Packaged Coconut Water and Coconut Shell worked items.
3 Instant tea and CSNL Cardinol include benefits under VKGUY @ 5% of FOB value of exports.
4 Nearly 300 products (at 8 digit level) from the readymade garment industry incentives under MLFPS for a further 6 months from October 2010 to March 2011 for exports to 27 EU countries.
This article is written by Law Crux Advisors Pvt. Ltd. Faridabad, Delhi India that offer ERP, payroll and tax solution software, e-book library Law & advice relating to indirect taxes such as central excise, customs and foreign trade policy
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