https://www.taxtmi.com/acts?id=49930 Amendments require exporters to increase taxable profits by an amount equal to ninety per cent of specified duty-remission receipts, apportioned by the ratio of export turnover to total turnover; for larger exporters this applies separately to customs-duty-related drawback and alternative duty-remission schemes where the assessee proves both the option to choose and that the drawback credit rate attributable to customs duty exceeded the remission-scheme credit rate. Losses under the principal computation may be set off against the ninety per cent apportioned remission sums, and the Explanation is expanded to cover the additional remission clauses. en-us Fri, 28 Feb 2025 16:38:20 +0530 Fri, 28 Feb 2025 16:38:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49930 Amendments require exporters to increase taxable profits by an amount equal to ninety per cent of specified duty-remission receipts, apportioned by the ratio of export turnover to total turnover; for larger exporters this applies separately to customs-duty-related drawback and alternative duty-remission schemes where the assessee proves both the option to choose and that the drawback credit rate attributable to customs duty exceeded the remission-scheme credit rate. Losses under the principal computation may be set off against the ninety per cent apportioned remission sums, and the Explanation is expanded to cover the additional remission clauses. Act-Rules F. Acts / Amendment Acts Fri, 28 Feb 2025 16:38:20 +0530 https://www.taxtmi.com/acts?id=49930