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Federal government Announces Relief Package For Exporters

After witnessing a great contraction in export orders for recent years months, Indian micro, small and medium enterprises (MSMEs) eUdyog Aadhar Registration in India the 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 to relief to the export segment. This move is going to benefit the employment-intensive export sectors with regard to example leather, gems & jewelery and linens.

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 offers.

Measures like quick settlement of duty credit scrips turn out to be 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 position.

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

Export incentives for goods like technical textiles, stapling machine and handmade carpets have been provided within 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 continued crisis.

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

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