Non-cash incentives for export of sugar extended by six months

New Delhi, Jun 26 (UNI) The Government today extended the non-cash incentives for export of sugar for another six months which include exempting the sugar factories' export quota from levy obligation and treating the exportable stock as an advance non-levy (free sale) release.

Under the non-cash incentives, the quantity of sugar released for export would be treated as advance non-levy (free sale) releases to be adjusted in the free sale stocks of the factories after a period of 12 months.

However, these incentives were not applicable to exports under preferential quota.

Further, the incentives were to be given on export of sugar made during the period January 3, 2007 to July 2, 2007 under Advance Authorisation Scheme and January 23, 2007 to July 22, 2007 for exports under Open General License, according to an official release here.

The Government has now decided to extend the period of above incentives by another six months or till further orders, whichever is earlier.

Accordingly, the period of incentive stands extended from July 3, 2007 to January 2, 2008 for exports under Advance Authorisation Scheme and July 23, 2007 to January 22, 2008 under Open General License Scheme or till further orders whichever is earlier.

These incentives would not be available to preferential quota exports, the release added.

UNI