Merchandise Exports from
Indian Scheme (in short, also known as MEIS) has been announced by the
Government. It not only replaces five similar incentive schemes (Focus Product
Scheme (FPS)/ Market Linked Focus Product Scheme (MLFPS)/ Focus Market Scheme (FMS)/
Agri. Infrastructure Incentive Scrip (AIIS)/ VisheshKrishiGraminUdyogYojana
(VKGUY), available under the Foreign Trade Policy 2009-2014, but it
rationalizes the incentives under the erstwhile Schemes, removes various kinds
of restrictions and significantly enlarges the scope of the earlier
schemes MEIS
Consultants in Mumbai. Unlike earlier Schemes, this scheme has been
made applicable to exports made by SEZ units.
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 itself and Goods imported/domestically
Procured against the scrip 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.
- No conditionality attached to the
Scrips issued under the scheme.
- Destination countries divided into
three groups- (i) Traditional Market, (ii) emerging & focus market;
and (iii) other markets
- Rs.1,000/- ( Rupees one thousand only) is to be deposited towards fee for application for duty credit scrip under rewards/incentive scheme.
We may
assist you:-
- To Identify and check eligibility
to get the benefits under the scheme.
- In the documentation, preparation
of the application, Online filing of application and Coordination with
Concerned authorities to get the Duty credit scrip.
Realization of the value of the scrip in cash or assistance in the utilization of the scrip for payment of MEIS Consultants In Mumbai Customs Duty /Excise duty/Services tax etc. as the case may be. We may also give a presentation for a better understanding of the scheme.
Original Source Content-
https://www.knowpia.com/s/blog_716ca4a10bee9e43
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