Trade, Import and Export for MSMEs: The Central Board of Indirect Taxes & Customs (CBIC) has now introduced the job work facility under the existing Import of Goods at Concessional Rate of Duty (IGCR) Rules, 2017. The move would allow importers, who don’t have an in-house complete manufacturing facility, to import goods at concessional rates for domestic manufacturing of goods and services. This followed the announcement made in the budget speech by Finance Minister Nirmala Sitharaman to amend the IGCR Rules to boost trade facilitation. This is also likely to help MSMEs that rely on contract manufacturing. “The absence of this facility had earlier constrained the industry especially those in the MSME sector which did not have the complete manufacturing capability in-house,” the Ministry of Finance said in a statement. However, sensitive sectors such as gold, articles of jewellery, and other precious metals or stones have been excluded from the facility of job work.