|
|
 |
|
|
Incentives and Drawbacks by rtlx web
|
|
|
Incentives and Drawbacks |
|
|
|
|
|
Business,Marketing
|
|
|
Incentive schemes: Besides foreign exchange facilities under the Import Export Policy,2002-07, a number of financial incentives are also available to the exporters. 1. Marketing and Development Assistance (MDA) Assistance under Marketing Development Fund is provided the Govt. for stimulating and diversifying the export trade for the following purposes: i. Market and commodity research, area survey and research ii. Export publicity and participation in trade fairs and exhibitions; iii. Trade delegation and study teams iv. Establishment of offices and branches in abroad. The Federation of Indian Exporters Organistions (FIEO) grants certain activites on behalf of the Ministry of Commerce. 2. Spices Export Promotion schemes - under these schemes the Spices Board develops the production and exports of value added spices under various schemes. 3. Air freight subsidy on Horticulture and Floriculture Exports--The Government grants air freight subsidy on selected fruits and floriculture items. 4. New External Marketing Assistance Scheme for Jute-The scheme envisages grant of market assistance at the rate of 5 - 10% of the F.O.B.Value realistion on export of specified diversified products. The benefit under the scheme is available to both manufacturer exporters and merchant exporters. 5. Financial Assistance scheme for Agricultural, Horticulture and meat exports- The Agricultural Products Export Development Authority (APEDA) provides assistance upto 50% of the cost of study subject to the ceiling surveys by growers, exporters, and their organisations. The assistance aims at encouraging exporters traders to develop their own market and information sources. 6. Financial assistance for marine products exports--There are a number of financial assistance to promote export production and marketing products of the fisheries sector. 7. Market Access Initiative (MAI) - Financial assitance shall be available under the schemes to the export promotion councils, industry and trade associations and other eligible entities, as may be notified from time to time for certain purposes viz., marketing studies on country product focus approach basis, promotioin of selected brands, participation in sales promotion campaign through international departmental stores etc., 8. Towns of Export Excellence-- A number of towns in specific locations have emerged as dynamic industrial locations contributing to India's exports viz., 'industrial clusters' . Selected towns producing goods worth of Rs.1000 crore or more will be notified as Towns of Exports Excellence and on the basis of potential for growth in exports. A number of such industrial cluster towns are exportinga substantial portion of their products which are world class. For example, Tirupur,is exporting 80% of its production of hosiery, like wise wollen blanket in Panipat, wollen knitwear in Ludhiana are the eligible export towns. 9. Special Focus on Cottage and Handicraft sector: The small scale sector alongwith the cottage and handicraft sector has been contributing tomore than half of the total exports of the country. The units in handicraft sector shall be entitled to duty free imports of specified items upto 3% of FOB value of their exports. Drawback schemes: 1. Duty drawback: Under the duty drawback scheme the export products get relief in respect of Customs and Excise duties paid on raw materials and components used in their production. For claiming the drawback on export of goods, the exporter is not required to file a separate application for granting the amoung of drawback, as the drawback shipping bill itself treated as a claim and it is finalised after ensuring that the goods have been presented for examination by Customs and cleared for being put on board a vessel/air craft and ensuring that the necessary formalities to enable processing the claims are adhered with. The payment of drawback claim is made directly by the Customs House/Central Excise Commissioner having jurisdiction over the port/air port through which the export is made. 2. Income Tax Exemptions and deductions: The exemptions and deductions at specified rates are available to the exporter and other foreign exchange earners under the Income Tax Act, 1961. The deductions are made in respect of export turnover (Under Section 80HHC)
Related Articles -
business,
|
Rate This Article  |
|
|
|
|
|
Do you Agree or Disagree? Have a Comment? POST IT!
| Reader Opinions |
|
|
|
|
|
|
|
|
|
| Author Login |
|
|
 |
Advertiser Login
ADVERTISE HERE NOW!
Limited Time $60 Offer!
90 Days-1.5 Million Views
|
|
PAUL PHILIPS
For more articles, blog messages & videos and a free e-book download go to www.NewParadigm.ws your p...more
|
|
|
|
|
TIM FAY
After 60-plus years of living, I am just trying to pass down some of the information that I have lea...more
|
|
|
|
|
LAURA JEEVES
At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
|
|
|
|
|
ADRIAN JOELE
I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
|
|
|
|
|
GENE MYERS
Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
|
|
|
|
|
DONNIE LEWIS
I'm an avid consumer of a smoothie a day living, herbs, vitamins and daily dose of exercise. I'm 60...more
|
|
|
|
|
ALEX BELSEY
I am the editor of QUAY Magazine, a B2B publication based in the South West of the UK. I am also the...more
|
|
|
|
|
SUSAN FRIESEN
Located in the lower mainland of B.C., Susan Friesen is a visionary brand strategist, entrepreneur, ...more
|
|
|
|
|
STEPHEN BYE
Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through the...more
|
|
|
|
