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    Question

    The Ministry of Micro, Small and Medium Enterprises is

    implementing the โ€˜International Cooperation Schemeโ€™ under which financial assistance is provided to Micro, Small and Medium Enterprises (MSMEs) to promote export from them. With reference to the above scheme,consider the following statements- I.75 percent of the cost paid subject to a maximum of Rs. 40,000/- or actual, whichever is lower subject to quarterly reporting by Export Promotion Councils (EPCs) as per prescribed format. II.Maximum reimbursement in a financial year of Rs. 10,000/- or actual, whichever is lower subject to quarterly reporting by ECGC as per prescribed format. III.With respect to the fee paid on Testing & Quality Certification acquired by MSEs to Export Products,reimbursement allowed for a maximum of 3 certificates per financial year with a ceiling of Rs. 1.5 Lakh per MSE unit. Which of the following is/are correct?
    A Only I Correct Answer Incorrect Answer
    B Only II Correct Answer Incorrect Answer
    C Only I & II Correct Answer Incorrect Answer
    D Only II & III Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Ministry of Micro, Small and Medium Enterprises is implementing the โ€˜International Cooperation Schemeโ€™ under which financial assistance is provided to Micro, Small and Medium Enterprises (MSMEs) to promote export from them. The scheme covers all the districts of the country. Registration-cum-Membership Certificate (RCMC) charges/fee paid by the first-time exporter to related Export Promotion Councils-75 percent of the cost paid subject to a maximum of Rs. 20,000/- or actual, whichever is lower subject to quarterly reporting by EPCs as per prescribed format. Export Insurance Premium paid to Export Credit Guarantee Corporation (ECGC) under the ECGCโ€™s Small Exporter Policy-Maximum reimbursement in a financial year of Rs. 10,000/- or actual, whichever is lower subject to quarterly reporting by ECGC as per prescribed format. Fee paid on Testing & Quality Certification acquired by MSEs to Export Products-75 percent of the testing and quality certification with a ceiling of Rs. 1.00 Lakh or actual, whichever is lower, subject to following conditions: Reimbursement allowed for a maximum of 3 certificates per financial year with a ceiling of Rs. 1.00 Lakh per MSE unit.Certificate, for which reimbursement claim is requested, should be attained within the same financial year.

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