Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Govt releases Rs 800 cr to help exporters.


Date: 06-01-2009
Subject: Govt releases Rs 800 cr to help exporters
The government today released Rs 800 crore to be paid to exporters as duty drawback and refund of central sales tax giving them a major relief in the face of credit crunch due to the global meltdown.

  
Simultaneously, the Directorate General of Foreign Trade (DGFT) also started putting the stimulus package into operation for exporters by hiking the duty refund rates and restoring them to the level before November 5, 2008, when the reimbursement was cut.

A sum of Rs 600 crore was dispatched to the regional authorities of the DGFT for clearing payment of the terminal excise duty and duty drawback under the deemed export scheme, official sources said.

Another Rs 200 crore were send to the Development Commissioners of the special economic zones for the payment towards the Central Sales Tax in respect of supplies made to 100 per cent export oriented units.

As promised in the second stimulus package unveiled on January 2, 2009, the DGFT notified extension of the popular Duty Entitlement Pass Book scheme for refund of taxes to exporters, till December, 2009.

The government had cut the tax refund rates for exporters in November after rupee appreciated fast to give higher realisations. However, with the worsening of the global markets, mainly the US and Europe, exports have started contracting putting lakhs of jobs at risk.

Concerned over the plight of exporters and the employment stakes in the sector, the government in the second stimulus package announced restoration of the DEPB benefits taken away in November last year.


Source : Business Standard


Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 01-12-2022
Notification No. 101/2022 - Customs (N.T.)
Exchange rate Notification No. 101/2022-Cus (NT) dated 01.12.2022-reg

Date: 01-12-2022
Notification No. 40/2022-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude.

Date: 01-12-2022
Notification No. 41/2022-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022, to reduce the Special Additional Excise Duty on Diesel.

Date: 01-12-2022
NOTIFICATION No. 04/2022-Central Excise (N.T.)
Appointment of the Commissioner of Central Excise and Service Tax (Appeals) as Central Excise officer for the entire territorial jurisdiction of the Principal Chief Commissioner/ Chief Commissioner of Central Excise and Service Tax for the purpose of passing Orders-in-Appeal for the CX & ST appeals filed after 30.06.2017-reg.

Date: 30-11-2022
Notification No. 100/2022-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 29-11-2022
No.98 /2022-Customs (N.T.)
Amendment of notification no. 47/2022–Customs (N.T.), dated the 31st May, 2022

Date: 29-11-2022
NOTIFICATION No. 99/2022-Customs (N.T.)
Amendment of notification number 48/2022-Customs (N.T.) dated the 31st May, 2022

Date: 25-11-2022
NOTIFICATION No. 61/2022-Customs
Seeks to amend certain specific FTA/PTA notifications.

Date: 23-11-2022
NOTIFICATIONNo. 23/2022 – Central Tax
Seeks to empower the Competition Commission of India to handle anti-profiteering cases under CGST Act, 2017 with effect from 01.12.2022.

Date: 23-11-2022
NOTIFICATION No. 24/2022 – Central Tax
Seeks to make fourth amendment (2022) to CGST Rules with effect from 01.12.2022.



Exim Guru Copyright © 1999-2022 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001