Kolkata, Oct. 3 -- EEPC India today welcomed the Reserve Bank of India's move to ease the Merchanting Trade Transaction (MTT) rules by extending the time period for outlay of foreign exchange from four to six months and simplifying the process for timely closure of entries in Export Data Processing and Monitoring System (EDPMS) and Import Data Processing and Monitoring System (IDPMS) for transactions up to Rs 10 lakh per bill.
The move would significantly improve ease of doing business, especially for small exporters and merchants, EEPC India chairman Pankaj Chadha said.
"EEPC India welcomes the decision as it will significantly ease compliance burden for small exporters and provide flexibility to merchant traders," he said.
"The reforms...