The government Announces Relief Package For Exporters

After witnessing a giant 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 strive 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 required to benefit the employment-intensive export sectors such as leather, gems & jewelery and 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 offers.

Measures like quick settlement of duty credit scrips for you to 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 switch.

In order market trade facilitation, the government has also extended a provision to relieve export obligations depending on the decline in exports.

Export incentives for goods like technical textiles, stapling machine and handmade carpets seemed to be provided contained 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 would help the MSME export segment tide over the ongoing crisis.

In order to promote trade facilitation, the government has also extended a provision to reduce export obligations in line with professional compensation SSI Registration Certificate Online in India exports.

Export incentives for models like technical textiles, stapling machine and handmade carpets were also provided in the recently announced export package deal.