Commerce Ministry announces more sops for exporters

27 Feb '09

1 min read

Ministry of Commerce & Industry announces Trade Facilitation Measures (Supplement to Foreign Trade Policy):

• DUTY CREDIT SCRIPS UNDER DEPB SCHEME TO BE ISSUED WITHOUT WAITING FOR REALIZATION OF EXPORT PROCEEDS
• SPECIAL PACKAGE OF RS.325 CRORE FOR LEATHER AND TEXTILES SECTOR
• THRESHOLD LIMIT FOR RECOGNITION AS PREMIER TRADING HOUSES REDUCED TO RS.7500 CRORE
• UNDER EPCG SCHEME, EXPORT OBLIGATION EXTENDED TILL 2009-10 FOR EXPORTS DURING 2008-09
• DEPB/DUTY CREDIT SCRIP UTILIZATION EXTENDED FOR PAYMENT OF DUTY FOR IMPORT OF RESTRICTED ITEMS ALSO
• PROCEDURE FOR CLAIMING DUTY DRAWBACK REFUND & REFUND OF TERMINAL EXCISE DUTY FURTHER SIMPLIFIED
• RE-CREDIT OF 4% SAD FOR VKGUY, FPS AND FMS ALLOWED
• A NEW OFFICE OF DGFT TO BE OPENED AT SRINAGAR
• VALUE CAP UNDER DEPB REVISED FOR TWO PRODUCTS
• ELECTRONIC MESSAGE TRANSFER FACILITY FOR ADVANCE AUTHORISATION AND EPCG TO BE ESTABLISHED
• EXPORT OBLIGATION PERIOD AGAINST ADVANCE AUTHORIZATIONS EXTENDED UP TO 36 MONTHS
• REIMBURSEMENT OF ADDITIONAL DUTY OF EXCISE LEVIED ON FUEL TO BE ADMISSIBLE FOR EOUS EARLY REFUND OF SERVICE TAX CLAIMS & FURTHER SIMPLIFICATION OF REFUND PROCEDURES ON THE ANVIL

Ministry of Commerce & Industry

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