Govt to overhaul tax refund schemes for exporters, sets up two panels
The Indian government plans to overhaul tax refund schemes for exporters, establishing two panels to enhance targeting and fund utilization. This initiative follows a recommendation from the expenditure finance committee for better efficiency, as the commerce and textiles ministries seek nearly ₹2 trillion for the Remission of Duties and Taxes on Exported Products and Rebate of State and Central Taxes and Levies schemes. Discussions on the panels' recommendations are expected during the upcoming Union budget deliberations.