After witnessing a huge contraction SSI Online Registration in India export orders for recent years months, Indian micro, small and medium enterprises (MSMEs) ultimately export sector has decided to receive much needed relief.
In an attempt to reduce the economic pressure, the United Progressive Alliance (UPA) led government recently unveiled a special package worth Rs 325 crore give relief to the export segment. This move is likely to benefit the employment-intensive export sectors since leather, gems & jewelery and sheets.
Under the new package, procedural formalities for claiming duty drawback refund and refund of terminal excise duty are simplified to help MSME exporters prune high transaction expenditure.
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 trade.
In order encourage trade facilitation, brand new has also extended a provision to scale back export obligations using the decline in exports.
Export incentives for items like technical textiles, stapling machine and handmade carpets are also provided included in the recently announced export package deal.
The de-linking of grant of benefit under the work entitlement pass book (DEPB) scheme 1 other incentive yard help the MSME export segment tide over the crisis.
In order to promote trade facilitation, the government has also extended a provision reduce export obligations in line with the decline in exports.
Export incentives for stuff like technical textiles, stapling machine and handmade carpets were also provided during their recently announced export package deal.