Brand new Announces Relief Package For Exporters

After witnessing a great 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 strive to reduce the economic pressure, the United Progressive Alliance (UPA) led government recently unveiled a special package worth Rs 325 crore to provide relief to the export segment. This move is going to benefit the employment-intensive export sectors since leather, gems & jewelery and linens.

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 expenditure.

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

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

Export incentives for goods like technical textiles, stapling machine and handmade carpets seemed to be provided included in the recently announced export package deal.

The de-linking of grant of benefit under the duty entitlement pass book (DEPB) scheme 1 other incentive that help the MSME Registration Process in India export segment tide over the continued crisis.

In order to promote trade facilitation, the government has also extended a provision cut down export obligations in line with professional compensation in exports.

Export incentives for such things as technical textiles, stapling machine and handmade carpets have also been provided in the recently announced export package deal.