Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
An interest subvention mechanism is launched with immediate effect to reduce the cost of pre- and post-shipment rupee export credit for eligible MSME exporters, with a subvention rate of 2.75% per annum and an annual cap of Rs 50 lakh per exporter, thereby lowering financing costs and improving working-capital liquidity. Eligibility is confined to MSME manufacturer and merchant exporters with a valid active IEC and MSME registration, and only for exports covered by a notified positive list of HSN six-digit tariff lines, thereby restricting benefits to specified sectors and transactions. Only export credit extended by lending institutions in accordance with RBI Master Directions qualifies; banks must pass the benefit upfront and claim reimbursement via RBI on monthly, auditor-certified, IEC-wise submissions, with excess claims recoverable. The framework is piloted concurrently with stakeholder consultation, with guidelines to be refined and later formalised under the FTP/HBP framework.
An interest subvention mechanism is launched with immediate effect to reduce the cost of pre- and post-shipment rupee export credit for eligible MSME exporters, with a subvention rate of 2.75% per annum and an annual cap of Rs 50 lakh per exporter, thereby lowering financing costs and improving working-capital liquidity. Eligibility is confined to MSME manufacturer and merchant exporters with a valid active IEC and MSME registration, and only for exports covered by a notified positive list of HSN six-digit tariff lines, thereby restricting benefits to specified sectors and transactions. Only export credit extended by lending institutions in accordance with RBI Master Directions qualifies; banks must pass the benefit upfront and claim reimbursement via RBI on monthly, auditor-certified, IEC-wise submissions, with excess claims recoverable. The framework is piloted concurrently with stakeholder consultation, with guidelines to be refined and later formalised under the FTP/HBP framework.
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