After witnessing a great contraction in export orders for recent years months, Indian micro, small and medium enterprises (MSMEs) in the export sector will receive much needed relief.
In an attempt to reduce the economic pressure, Udyog Aadhaar Registration Form Online 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 gonna benefit the employment-intensive export sectors such as leather, gems & jewelery and linens.
Under the new package, procedural formalities for claiming duty drawback refund and refund of terminal excise duty happen to simplified to help MSME exporters prune high transaction service fees.
Measures like quick settlement of duty credit scrips 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 promote trade facilitation, federal government has also extended a provision cut down export obligations dependant upon the decline in exports.
Export incentives for items like technical textiles, stapling machine and handmade carpets were also provided as part of the recently announced export stimulus package.
The de-linking of grant of benefit under the job entitlement pass book (DEPB) scheme one more incentive yard help the MSME export segment tide over the crisis.
In order to promote trade facilitation, the government has also extended a provision to cut back export obligations in line with decrease in exports.
Export incentives for such things technical textiles, stapling machine and handmade carpets have also been provided within the recently announced export stimulus package.