Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
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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