Clarification on the DGFT’s notification on the extension of Interest Equalization Scheme (IES)

Dear Sirs/Madam,

 

DGFT vide its trade notice no. 08/2024-25 dated 10th July 2024 has issued the below given clarification concerning the extension of the Interest Equalization Scheme (IES) for Pre and Post shipment Rupee Export Credit for two months beyond 30th June, 2024:

S No	Issue	Clarification
1	Threshold Limit for the extended period: Whether there is any threshold limit of Interest Equalisation per IEC for the period from 1st July 2024 to 31st August 2024.	The Interest Equalisation will be capped at Rs. 1.66 Cr per IEC for the period from 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 m circular RBV2021-22/180DOR.STR. REC.93/04.02.00 112021-22.	The scheme extended vide Trade Notice No. 07/2024-2025 dated 128.06.2024 is applicable only to MSME Manufacturer Exporters, who are eligible for IES benefit of3%.
3	Requirement of Revised UIN: Whether clients would be 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.

The detailed notification is attached for the kind perusal of the members.

Members may kindly take note of the above.

Thanking you,

Yours faithfully,

(Chandrima Chatterjee)

Secretary General