Market Linked Focus Product Scrip (MLFPS) is a capital receipt

Bharat Rasayan Ltd. Vs ACIT (ITAT Delhi) We have also examined the para no. 3.15.3 of the scheme document of the Foreign Trade Policy of Government of India, Ministry of Commerce and Industry wherein it was specified that market linked focus products scripts (MLFPS) is meant for export of products of high export intensity employment potential would be incentivized at 2% of FOB value of exports in free Foreign Exchange under FPS when exported to the linked market countries. Thus, there is no dispute that this incentive is an export incentive. The matter has been well considered by the order of ...