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DGFT issues Clarification on IES for Pre and Post shipment Rupee Export Credit Extension [Read Notice]
The claims of non-MSME exporters are not to be entertained beyond 30th June 2024.
The DGFT ( Directorate General of Foreign Trade ) has issued the clarification on IES ( Interest Equalisation Scheme ) for the extension of Pre and Post shipment rupee export credit to MSME exporters vide Trade Notice No. 08/2024 dated 10th July 2024.
In the Trade Notice No. 07/2024, the government has notified the extension up to 30th August 2024.
The Clarification is as follows:
| S.No. | Issue Revised | Clarification |
| 1 | Threshold Limit for the extended period: Whether there is any threshold limit of Interest Equalisation IEC for the from 1st July 2024 to 31 st august 2024. | The Interest Equalisation will be 1.66 Cr IEC for the 1st July 2024 to 31st August 2024. |
| 2 | Inclusion of MSME Merchant Exporters: Whether the scheme is applicable only to MSME Manufacturer exporters, who are eligible for IES benefit of 3%, or if it is also applicable to MSME Merchant Exporters, who are eligible for IES benefit of 2% under 410 HS Lines as advised in circular RBI/2021- 2/180DOR.STR.REC.93/04.02.001/2021-22. | The scheme extended vide Trade notice No. 07/2024-2025 dated 8.06.2024 is applicable only to SME Manufacturer Exporters, who eligible for IES benefit of 3%. |
| 3 | Requirement of Revised UIN: Whether clients would required to generate revised UIN for the extended period as the existing UINs have a validity till 31.03.2025. | Applicants would not be required to generate revised UIN for the extended period if the applicants have already generated UIN for the FY 2024-2025. |
In the Trade Notice 07/2024, it was mentioned that the claims of non-MSME exporters are not to be entertained beyond 30th June 2024.
To Read the full text of the Notice CLICK HERE
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