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 receive much needed relief.

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

Under the new package, procedural formalities for claiming duty drawback refund and refund of terminal excise duty are simplified to help MSME Registration Online in India exporters prune high transaction service fees.

Measures like quick settlement of duty credit scrips to be 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 trade.

In order encourage trade facilitation, the government has also extended a provision to scale back export obligations by the decline in exports.

Export incentives for such things technical textiles, stapling machine and handmade carpets seemed to be provided as part of the recently announced export package deal.

The de-linking of grant of benefit under the obligation entitlement pass book (DEPB) scheme extra incentive that would help the MSME export segment tide over the crisis.

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

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

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