The Directorate General of Foreign Trade (DGFT) on September 17, 2024, issued a circular regarding the amendments under the Interest Equalisation Scheme.
The below mentioned amendment is made with immediate effect for rationalisation of the scheme.
• The annual net subvention amount is capped at Rs 10 Cr per IEC for a given financial year, accordingly a cap of Rs. 5 Cr per IEC for MSME Manufacturers is imposed till September 30, 2024 for the financial year starting from April 01, 2024.
• It is further clarified that for Manufacturer Exporters and Merchant Exporters the cap is Rs. 2.5 Cr till June 30, 2024
[Trade Notice No. 17/2024-2025]
