Application Process for the Cash Incentive of Garments Export
Application Process for the Cash Incentive of Garments Export. Apparel manufacturers have demand for 5% cash incentives against their exports regardless of destinations as they mention that the industry is passing through a critical.
The finance minister announced a special cash assistance of 1 percent in the garment sector in the current fiscal year 2019-2020. This 1 percent special cash assistance will be available mainly to those who import raw materials under bonds, which will be exported to the United States, European Union and Canada.
The process will be continue by any third party agent or any audit firm. The below process any one follow for execute the cash incentive or assistance from Bangladesh Bank. It will be helped by company employee or Garment owners. If you flow step by step….
|1||Regularly visit office and collection data regarding export/ import and waiting to collect data of full shipment against Master LC.|
|2||Collect PRC (Export process realization certificate) and B2B documents/certificate form lien the lien with signature.|
|3||Apply to BGMEA with this documents for getting certificate from BGMEA.|
|4||Preparing form “KA” along with this certificate and apply to the lien Bank.|
|5||Lien Bank forward this documents to respective auditors who are approved by the Bangladesh Bank|
|6||If there are any query raise by the auditor he support them with documents.|
|7||Lien Bank informed us after the getting report from audit firm.|
|8||Lien Bank submit the report to the Bangladesh Bank for further processing and fund disbursement.|
|9||Follow up need for collection the fund ,usually its require 9/10 months|