In context of the Foreign Trade Policy of India lsquo Duty Credit Scrips rsquo refer to........

Economic Affairs Foreign Trade - Trends and Policy

In context of the Foreign Trade Policy of India, ‘Duty Credit Scrips’ refer to

The duty credit scrip is a pass that allows the holder to import commodities by not paying a specified amount in import duties.

It is a certificate that allows exemption from Minimum Alternate Tax to exporters.

It is a type of manufacturing subsidy given to exporters to make their goods competitive in market

It is a system in which exporters of certain goods can claim relaxation on custom duties.

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Explanation:

Basically, duty free scrips are paper authorizations that allow the holder to import inputs that go into manufacture of products that are exported or machinery used for producing such goods without paying duties equivalent to the printed value. The scrips are given to exporters for meeting certain goods and exporting it to specific markets. Main objective of the scrip is to incentivize the exporters to make more exports of specific commodities/services and those to specific markets. The FTPs (Foreign Trade Policies) usually mention the schemes eligible for scrips.