Bhutan will receive over Nu. three billion from India as refund of excise duty on import of goods for 2010 and 2011.
An agreement was signed today in the capital between the Director of the Department of Revenue and Customs, Choyzang Tashi, and Director General for Inspections of Customs and Central Excise of the Government of India, Sandhya Baliga.
The total amount to be refunded is more than that of 2008 and 2009, which was over Nu. 2 billion.
The Department of Revenue and Customs attributed the increase to the department’s improved recording system, proper maintenance of documents and the increase in imports from India.
