Amendment to the Interest Equalisation Scheme (17 Sep)
The Directorate General of Foreign Trade has amended the Interest Equalisation Scheme with the following changes with immediate effect:
- The annual net subvention amount is capped at Rs. 10 crore per IEC for a given financial year. A cap of Rs. 5 crore per IEC for MSME Manufacturers has been imposed till 30th September 2024, for the financial year starting from 1st April 2024.
- For manufacturer exporters and merchant exporters, a cap of Rs. 2.5 crore has been imposed 30th June 2024.
Amendment to the Handbook of Procedures with regard to the EPCG Scheme (20 Sep)
The Directorate General of Foreign Trade has amended the Handbook of Procedures with regard to the EPCG Scheme. Any authorisation holder will be required to submit a report on fulfilment of export obligation through online mode after expiry of first block period of four years and continuously till the expiry of the valid export obligation period, to the Regional Authority concerned. The report should contain a statement with details of the shipping bill / invoice number / bill of export / FIRC number, duly certified by the Chartered Accountant / Cost Accountant / Company Secretary for evidencing fulfilment of specific as well as average export obligation.
Amendment to the Import Policy for Raw Pet Coke and Calcined Pet Coke (04 Sep)
The Import Policy of Raw Pet Coke and Calcined Pet Coke has been amended to permit import to cater to the entire domestic needs of aluminium industry and other industries for processes, as permitted under the relevant regulations. Earlier, the import was permitted for the domestic needs of aluminium industry only.
Amendment to Appendix 3 (SCOMET items) to Schedule - 2 of ITC (HS) Classification of Export and Import Items, 2018
The Directorate General of Foreign Trade has notified the Annual SCOMET Update and accordingly amended the Appendix 3 (SCOMET Items) to Schedule-2 of ITC (HS) Classification of Export and Import Items, 2018.
Extension of Interest Equalisation Scheme (IES) for Pre and Post shipment Rupee Export Credit (30 Sep)
The Directorate General of Foreign Trade has further extended the Interest Equalisation Scheme for Pre and Post Shipment Rupee Export Credit Scheme till 31st December 2024. However, the MSME manufacturer-exporters, who have already availed equalisation benefit of Rs. 50 Lakhs or more in 2024-25 till 30th September 2024, will not be eligible for any further benefit in the extended period.
Extension of RoDTEP scheme for exports made from DTA units and AA / EOU / SEZ units (30 Sep)
The Directorate General of Foreign Trade has extended the RoDTEP scheme for exports made from DTA Units till 30th September 2025 and from AA / EOU / SEZ units till 31st December 2024. The revised rates as in Appendix 4R and Appendix 4RE will also be notified for implementation with effect from 10th October 2024.
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