What does DLTL mean in TAX
Drawback of Local Taxes and Levies (DLTL) is a scheme under the indirect tax regime of India. It is designed to provide relief to exporters on the taxes they have paid locally on the inputs used in their exports. The scheme works by allowing exporters to claim refunds of local taxes when they export their goods.
DLTL meaning in Tax in Business
DLTL mostly used in an acronym Tax in Category Business that means Drawback of Local Taxes and Levies
Shorthand: DLTL,
Full Form: Drawback of Local Taxes and Levies
For more information of "Drawback of Local Taxes and Levies", see the section below.
Essential Questions and Answers on Drawback of Local Taxes and Levies in "BUSINESS»TAX"
What is Drawback of Local Taxes and Levies?
Drawback of Local Taxes and Levies (DLTL) is a scheme under the indirect tax regime of India. It is designed to provide relief to exporters on the taxes they have paid locally on the inputs used in their exports.
How does the DLTL scheme work?
The scheme works by allowing exporters to claim refunds of local taxes when they export their goods. This includes central excise duty, state VAT, sales tax, entertainment tax, luxury tax and purchase tax that have been charged on imported or domestically procured goods that are used in an exported good or service.
How long do I have to wait for my refund under the DLTL Scheme?
Refund requests will generally be processed within 15 days of submission. However, it may take up to 45 days if further verification is required.
Is there any limit for claiming a refund under DLTL Scheme?
Yes, refund claims made under this Scheme are subject to a cap which depends upon the category as well as periodicity of exports specified by customs office from time-to-time.
Who are eligible for the DLTL Scheme?
All manufacturing companies, trading companies and service providers who undertake exports from India are eligible for this Scheme
Final Words:
The Drawback of Local Taxes and Levies (DLTL) Scheme provides relief to exporters who have paid local taxes while procuring goods/inputs used in exports. By allowing them to claim a refund on these taxes, it encourages businesses in India to increase their export activities.