Foreign trade promotion measures and organisatio in india
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Trade promotion (international trade) ... One notable tactic is the provision of tradeintelligence to domestic enterprises in order to reduce transaction costs and provide them with a competitive advantage vis-à-vis foreigncompanies.
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Foreign Trade Promotion Measure and Schemes
1. Duty Drawback Scheme
Merchandise that is to be export is not conditional for payment of different excise, levy charges and customs duties. On showing verification of export of these products to the concerning authority such charge returns. Such refunds are ‘Duty Drawbacks.’
2. Export Manufacturing under the Bond Scheme
Under this freeway, organizations can manufacture merchandise without giving excise duty and different charges. The organizations can benefit this facility after giving an endeavour (i.e. bond) that they are producing commodities for the export goal.
3. Exemption from Payment of Sales Taxes
Merchandise manufactured for the sole reason of exporting is not conditional upon payment of sales tax. Money received from exporting operations has been absolved from giving of Income-tax for a long time now. This exemption is only available to 100% Export oriented units and units set up in Export Processing Zones / special economic zones.
4. Advance Licence Scheme
In this government policy which permits the supplier duty-free supply of local and also in addition imported resources required for the manufacturing of export merchandise. The firms exporting irregularly can likewise acquire these licenses against particular export orders.
5. Export Processing Zones
They are industrial domains, which shape enclaves from the Domestic Tariff Areas. These are generally located close to seaports or air terminals. They intend to provide an internationally competitive duty-free environment for export production at low cost. There are different measures, for example, availability of export fund, export promotion, capital merchandise scheme is in use for foreign trade promotion.
1. Duty Drawback Scheme
Merchandise that is to be export is not conditional for payment of different excise, levy charges and customs duties. On showing verification of export of these products to the concerning authority such charge returns. Such refunds are ‘Duty Drawbacks.’
2. Export Manufacturing under the Bond Scheme
Under this freeway, organizations can manufacture merchandise without giving excise duty and different charges. The organizations can benefit this facility after giving an endeavour (i.e. bond) that they are producing commodities for the export goal.
3. Exemption from Payment of Sales Taxes
Merchandise manufactured for the sole reason of exporting is not conditional upon payment of sales tax. Money received from exporting operations has been absolved from giving of Income-tax for a long time now. This exemption is only available to 100% Export oriented units and units set up in Export Processing Zones / special economic zones.
4. Advance Licence Scheme
In this government policy which permits the supplier duty-free supply of local and also in addition imported resources required for the manufacturing of export merchandise. The firms exporting irregularly can likewise acquire these licenses against particular export orders.
5. Export Processing Zones
They are industrial domains, which shape enclaves from the Domestic Tariff Areas. These are generally located close to seaports or air terminals. They intend to provide an internationally competitive duty-free environment for export production at low cost. There are different measures, for example, availability of export fund, export promotion, capital merchandise scheme is in use for foreign trade promotion.
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