The Many Benefits of Import & Export Schemes

Economical imbalance continues to be a concern in many countries of the world. Like any other country even India has been practicing several programs and schemes for the betterment of the nation’s economy. Import & Export has been a sector where Indian Government has been focusing a lot because it holds the potential to boost nation’s economic condition. Import and export has become very popular in the recent past as many industrialists have been investing in this industry. Keeping this in mind Government has introduced several different programs that are especially designed to empower and promote export from the country. More export will lead to develop and better the economic system of the country which will lead to a better tomorrow. Different schemes like SEZ, EOU, STP, EHTP and many more are introduced with a goal to boost more of import from the country.

Understanding those import and export schemes might be a challenge task to start with. In order to eliminate this factor there are many private and government consultancy service providers available in the market that may help you to understand these schemes in detail. DIC registration consultants also help you to register your exporting units under any of the scheme you prefer. There are different types of benefits and incentives that come attached with each scheme. Below mentioned are few of the most beneficial and essential import & export schemes available:

SEZ:

SEZ is a scheme that was announced in the year 2000 in the month of April. The sole purpose of introducing this scheme was to provide an internationally competitive environment for exports. The objective of introducing this scheme was to make goods and services available free of taxes and duties supported by integrated infrastructure for export production, expeditious and single window approval mechanism and a package of incentives to attract foreign and domestic investments for promoting export-led growth. Major benefits of this scheme are that it provides Exemption from Central Sales Tax and Exemption from Service Tax.

EUO:

This scheme was introduced in the year 1980. The sole purpose of launching this scheme was to boost exports by creating additional production capacity. Under this scheme, the units are allowed to import or procure locally without payment of duty all types of goods including capital goods, raw materials, components, packing materials, consumables, spares and various other specified categories of equipments including material handling equipments, required for export production or in connection therewith. Along with this scheme come many benefits out of which 100% of foreign equity is permissible and Full Freedom for sub-contracting are the highlights.

EHTP:

Electronic Hardware Technology Park (EHTP) was introduced in order to encourage exports of electronic hardware items including hard disk drives, computers, television, etc. The highlights of this scheme are that the EHTP unit may bunch the products manufactured by it for sale in the DTA with its entitlement and EHTP may gear up to 100 per cent foreign equity.

Under any of the mentioned schemes Shops and establishment registration can be done easily by just approaching registration consultants.