How to utilize duty scrip issued under MEIS and SEIS?

    

The information provided here is part of Online export import business guide course


Also read:
Service Exports from India Scheme (SEIS)
Common guidelines to exporters to claim SEIS and MEIS
Who are eligible for SEIS, Service Exports from India Scheme?
Who are not eligible to claim scheme under SEIS?
List of eligible exporters for SEIS, Service Exports from India Scheme

Also read:MEIS Scheme under Foreign Trade Policy of India 2015-2020

How to utilize duty scrip issued under MEIS and SEIS?

 

Export Import Policy 1Duty credit scrip is freely transferable and usable for payment of custom duty, excise duty and service tax.

 

As per Foreign Trade Policy 2015-20 explains about Duty scrips under MEIS and SEIS scheme as follows:

(a) All scrips issued under MEIS and SEIS and the goods imported against these scrips would be fully transferable.

 

(b) Scrips issued under Exports from India Schemes can be used for the following:-

(i) Payment of customs duty for import of inputs / goods including capital goods, except items listed in Appendix 3A.

(ii) Payment of excise duty on domestic procurement of inputs or goods, including capital goods as per DoR notification. 4 (iii) Payment of service tax on procurement of services as per DoR notification.

(c) Basic Customs Duty paid in cash or through debit under Duty Credit Scrip can be taken back as Duty Drawback as per DoR Rules, if inputs so imported are used for exports.

 

 

Also read:MEIS Scheme under Foreign Trade Policy of India 2015-2020

 

 

Here, the details about utilization of duty scrips under MEIS and SEIS are explained. You may express your views about utilization of duty scrips under SEIS and MEIS.

 

 

The above information is a part of Guide on howtoexport and import 


Share your views about duty scrips under MEIS and SEIS as per Foreign Trade Policy of India 2015-20.

 

Also read:

How to export your product?
How to import your product?
Click here to know HS code of your product
What is the ITC code (Indian Tariff Code) of your product?
12 Major risks and solutions in Imports and Exports
Bank Pre shipment Finance to exporters


 

 How to obtain waiver on detention/ demurrage on imported goods/container from Shipping company/CFS

TYPES OF MARINE INSURANCE POLICIES

 Unclean Bill of Lading/Claused bill of lading/foul bill of lading/Dirty Bill of Lading

USDA hold by US customs for import cargo

Vessel sailing in export business

How to amend measurements in IGM (Import General Manifest) in India

 How to amend number of packages in Import General Manifest (IGM)

We have IEC, can we export from all ports?

What are the legal documents in exports

What does ECGC do on default of payment of any overseas buyer?

 What happens if Date difference in HBL & MBL

Transferability of Bill of Lading

Transhipment - A redefinition

Travelers to India under import duty exemption, Frequently Asked Questions Part 2

Triangular export

 Triangular shipment

Types of Insurance Documents.

What happens if overseas buyer not paid export bills discounted.

What happens if proper tracking of goods not effected in export import business?

What happens if your buyer rejects cargo? What are the major problems if consignee not taken delivery of cargo?

What happens, if Bank not received money from buyer after discounting of export bills?

Transferability of Bill of Lading

Transhipment - A redefinition

Travelers to India under import duty exemption, Frequently Asked Questions Part 2

Triangular export

 Triangular shipment

Types of Insurance Documents.

 How to make DA mode of payment safe

How to make delay in delivery of Shipment?

 How to minimize import cargo clearance time? An open logic proposal to WTO

What happens, if cargo not cleared by importer

What happens, if HAWB number marks wrongly



 

 


Comments


vijay nijhawan: Agst Duty Free scrips if I have an Income of USD 1,00,000 - how is the incentive calculated what is the rate applicable for export of services to South Korea

Anil W Chitale: I am service provider in the field of HVAC validation/ calibration services. I have to carry instruments to arebian countries from India.(Imported instruments) How I can get prior authentication for temp. export & again re-import to India

owais: can octroi be payed using seis scripts?

manikanta: Sir our company is engaged in back office services provided to Insurance companies/brokers based out of US. so can we apply claim under SEIS for getting duty credit scrips

nishant: dear sir, we dont have iec can we apply for seis benefit.

Anit jain: If duty is paid by MEIS scrips for goods listed under appendix 3a will it lead confiscation u/s 111(o) of customs act even when the importer has himself declared his mistake to the department and wants to pay duty in cash. Pl comment

Praveen: Can we use MEIS for payment of duty of RCM (GST) instead of cash.

Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers