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The Directorate General of Foreign Trade amends the Interest Equalization Scheme to impose a financial cap of Rs. 2.50 crore per Importer-Exporter Code holder. This limit applies to the quarter starting from April 1 2024. The limit stays in effect until June 30 2024. All Importer-Exporter Code holders, bank branches, and export promotion councils follow this update.
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Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan, New Delhi
Dated: 20.03.2024
Trade Notice No. 40/2023-2024
To,
Subject: Amendments under Interest Equalization Scheme - reg.
Attention of Trade and Industry is drawn towards the extension of Interest Equalization Scheme (IES) upto 30.06.2024, as notified by RBI vide its Circular No. DOR.STR.REC.78/04.02.001/2023-24 dated 22.02.2024.
In this regard, it may be noted that a cap of Rs. 2.50 Cr per IEC is imposed till 30.06.2024 for the quarter starting from 01.04.2024.
This issues with the Competent Authority.
(K.M Harilal) Jt. Director General of Foreign Trade DGFT Hq Email: km.harilal@gov.in
(Issued from File No.: 01/94/180/135/AM24/PC-4)
