The Department of Commerce, below the Union Ministry of Commerce & Industry, on March 5, 2019, notified a Transport and Marketing Assistance (TMA) scheme for Specified Agriculture Products. The Foreign Trade Policy (2015-20) could cover the procedure.
Objective
The Transport and Marketing Assistance for precise agriculture merchandise scheme aims to offer help for the worldwide transportation of agricultural produce to mitigate the drawback of the better price of exporting agricultural products. It will sell emblem popularity for Indian agricultural products within the particular distant places markets. Assistance below TMA might be supplied in coins via Direct Bank Transfer as compensation for freight paid.
The Freight On Board (FOB) substances in which no freight is paid using Indian exporters aren’t protected under this scheme. The help stage could be distinctive for one-of-a-kind areas, as notified now and then for the export of eligible products. The assistance can be provided if export bills are obtained in Free Foreign Exchange through normal banking channels.
The scheme could be eligible for exports made via Electronic Data Exchange (EDI) ports.
The scheme covers freight and advertising help for export with air and sea aid.
TMA could be based on the freight paid for a complete Twenty-feet Equivalent Unit (TEU) container to export merchandise using sea. The help will not be available for Less than Container Load (LCL) and a container with each eligible and ineligible shipment category.
Assistance for merchandise exported with the aid of air would be primarily based on consistent ton freight expenses on the net weight of the export shipment, calculated on the whole ton foundation. The Directorate General of Foreign Trade (DGFT) would reimburse the TMA scheme.
The DGFT will lay down techniques for scrutiny of the claims, audit the payments made, recovery of the ineligible paid assistance, and hobby on such rallies. The defaulters could be answerable for penal movement underneath the Foreign Trade (Development & Regulation) Act, 1992, Rules.
The government launched a scheme to offer Transport and Marketing Assistance for agricultural merchandise.
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