In the Foreign Trade Policy-2015-2020, with effect from 1.4.2015, Merchandise Exports from Indian Scheme (MEIS) has been announced by the Government. The Government has designed the scheme to provide rewards to exporters to offset infrastructural inefficiencies and associated costs. The Government has discontinued the MEIS scheme w.e.f 31st December 2020 i.e. MEIS benefit was available for shipping bills having Let Export Order before or on 31st December 2020.
Salient Features of The Scheme
- Grants rewards in the form of Duty Credit Scrip to the exporter on export on exports of notified goods, which have been produced/ manufactured in India.
- Rewards for exports of notified goods to notified markets payable as percentage of realized FOB value (in free foreign exchange).
- Scrip issued are freely transferable.
- Certain specified categories of exports or exports goods are not eligible for benefit under the Scheme.
- Scrip can be used for payment of (i) Customs Duties for import of inputs or goods, except items listed in Appendix 3A; (ii) Payment of excise duties on domestic procurement (iii) payment of services tax (iv) Payment of Customs Duty and fee as per paragraph 3.18 of the Policy.
How We Assist
We may assist you:-
- To Identify and check eligibility to get the benefits under the scheme.
- In documentation, preparation of application, On line filing of application and Coordination with Concerned Authority to get the Duty credit scrip.
- Realization of value of the scrip in cash or assistance in utilization of the scrip for payment of Customs Duty /Excise duty/Services tax etc. as the case may be.
- Representation to Policy Relaxation Committee in respect for availing benefit under MEIS scheme