Highlights on export incentive schemes

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 Incremental Exports Incentivisation Scheme

 

export incentive scheme
1  Government has announced Incremental Export Incentivisation Scheme on 26.12.12 for the exports made during January 2013 to March 2013. This scheme is available for exports made to USA,EU and Asia. It has been agreed to extend this scheme for the year 2013-14. The calculation of the benefit shall be on annual basis under the extended scheme. 

2  The Government has also agreed to include additional countries under Incremental Exports Incentivisation Scheme. 53 countries of Latin America and Africa have been added with the objective to increase India‟s share in these markets. The present exports to each of these markets is less than US $ 100 million. 

            Facility to close cases of default in Export Obligation

 

        Requests have been received for grant of relief to close cases where there is default in export obligations pertaining to advance 
        authorizations and EPCG authorizations. It has been decided to allow a facility to close such cases after payment of required duty,
        along with applicable interest. The duty + interest have to be paid within a limited period of six months from the date of notification
        of this scheme. The total payment shall not exceed two times the duty saved amount on default in Export Obligation.