Clarification to the Trade Notice No. 07/2024-25

To, File No. OV94/ 180/341/AM20/PC-4 Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan, New Delhi 110001 Trade Notice No. 08/2024-2025 Dated: 1Oth July 2024 Members of Trade and Industry EPCs/FIEO Reserve Bank oflndia Subject: Clarification to the Trade Notice No. 07/2024-2025 - reg. This is in reference to the Trade Notice No. 07/2024-2025 dated 28.06.2024 vide which the Interest Equalisation Scheme (IES) for Pre and Post shipment Rupee Export Credit was extended for two months beyond 30th June, 2024. 2. In this regard, it is noticed that banks are facing difficulties on the applicability of the Trade Notice No. 07/2024-2025. 3. In view of the above, the issues raised are accordingly clarified as follows: Sr. Issue raised tNo. 1. rrhreshold Limit for the extended period: Whether ~here is any threshold limit of Interest Equalisation per IEC for the period from P1 July 2024 to 3 P1 !August 2024. 12. Inclusion of MSME Merchant Exporters: Whether ~he 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, jwho 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. 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 ~ill 31.03:2025. 4. This issues with the approval of the Competent Authority. !clarification The Interest Equalisation will be !capped at Rs. 1.66 Cr per IEC for the period from 1st July 2024 to 31st !August 2024. !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%. !Applicants would not be required to generate revised UIN for the extended period if the applicants have already !generated UIN for the FY 2024-202'5. ~~·~ (K. M. flarilal) Jt. Director General of Foreign Trade DGFT(HQ) [Issued from File No. OV94/ 180/341/AM20/PC-4]