The DGFT vide Trade Notice No. 05/2023-24 dated May 25, 2023 has issued amendment under Interest Equalisation Scheme (IES).
Attention of Trade and Industry is drawn towards the extension of Interest Equalisation Scheme (IES) upto March 31, 2024, as notified by RBI vide its Circular no. DOR.STR.REC.93/04.02.001/2021-22 dated March 08, 2022.
The below-mentioned amendment is made with immediate effect for rationalization of the scheme:
“The annual net subvention amount would be capped at Rs. 10 crore per IEC in a given financial year. All disbursements made from April 01, 2023 shall be counted for an IEC for the current financial year.”
The Trade Notice can be accessed at: https://content.dgft.gov.in/Website/dgftprod/bc5f73b9-828d-468a-ad3d-60f13f485bcc/Trade%20Notice%2005-2023-24%20dated%2025-05-2023.pdf