27 Nov

The government Announces Relief Package For Exporters

After witnessing a huge contraction in export orders for recent months, Indian micro, small and medium enterprises (MSMEs) in the export sector will soon receive much needed relief.

In an make an effort to reduce the economic pressure, the United Progressive Alliance (UPA) led government recently unveiled a special package worth Rs 325 crore produce relief to the export segment. This move is likely to benefit the employment-intensive export sectors while leather, gems & jewelery and Udyog Aadhaar Registration Form Online fabrics.

Under the new package, procedural formalities for claiming duty drawback refund and refund of terminal excise duty also been simplified to help MSME exporters prune high transaction price.

Measures like quick settlement of duty credit scrips become issued ahead on the realization of export proceeds and extension of scrips for import of even restricted items after payment of duty is expected to facilitate greater promote.

In order encourage trade facilitation, federal government has also extended a provision to reduce export obligations in line with the decline in exports.

Export incentives for items like technical textiles, stapling machine and handmade carpets have also been provided as part of the recently announced export package deal.

The de-linking of grant of benefit under the job entitlement pass book (DEPB) scheme one more incentive that may help the MSME export segment tide over the continued crisis.

In order to promote trade facilitation, the government has also extended a provision limit export obligations in line with the decline in exports.

Export incentives for stuff like technical textiles, stapling machine and handmade carpets have been provided contained in the recently announced export package deal.