The Central Board of Indirect Taxes and Customs, CBIC has extended export-related benefits under the Duty Drawback, Remission of Duties and Taxes on Exported Products and Rebate of State and Central Taxes and Levies schemes to exports made through the postal mode in electronic form, with effect from the 15th of this month.
The Ministry of Finance informed that 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. It also said that 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.
