The government has set aside Rs 56,000 crore to pay exporters, according to Commerce and Industry Minister Piyush Goyal. This covers unpaid dues from past years as well as current dues.
Aside from that, the allocation includes Rs 33,000 crore for the Merchandise Exports from India scheme, Rs 10,000 crore for claims under the Services Exports from India Scheme, and Rs 5,500 crore for claims under the Rebate of State and Central Taxes and Levies (RoSCTL) and erstwhile Rosl schemes for textile exporters.
Up to 45,000 stakeholders, most of whom are MSMEs will profit, according to Goyal, who said that a new platform will be established for this reason.
The online IT site will soon be able to accept MEIS and other script-based applications, as per the information. It will be linked to a strong mechanism established by the Ministry of Finance to track the allocation and disbursement of export incentives within a budgetary framework.
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Export claims for previous years on the other hand, must be lodged by December 31, 2021, or they will become time-barred.
The new sum released is in addition to the previously announced duty remissions of Rs 12,454 crore for the RoDTEP programme and Rs 6,946 crore for the RoSCTL scheme.
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