MEIS and SEIS under Foreign Trade Policy 2015-20

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Exports from India Schemes

There shall be following two schemes for exports of Merchandise and Services respectively:

(i) Merchandise Exports from India Scheme (MEIS).

(ii) Service Exports from India Scheme (SEIS).

 

Export import policy 2015-20Duty Credit Scrips shall be granted as rewards under MEIS and SEIS. The Duty Credit Scrips and goods imported / domestically procured against them shall be freely transferable. The Duty Credit Scrips can be used for :

(i) Payment of Customs Duties for import of inputs or goods, except items listed in Appendix 3A.

(ii) Payment of excise duties on domestic procurement of inputs or goods, including capital goods as per DoR notification.

(iii) Payment of service tax on procurement of services as per DoR notification.

(iv) Payment of Customs Duty and fee as per paragraph 3.18 of this Policy.

 

Free Foreign Exchange earned through international credit cards and other instruments, as permitted by RBI shall also be taken into account for computation of value of exports under MEIS.

 

Merchandise Exports from India Scheme (MEIS) as per Import Export Policy 2015-20 (FTP 2015-20)

 

Objective of Merchandise Exports from India Scheme (MEIS) under Indian Foreign Trade Policy 2015-20 (FTP 2015-20) is to offset infrastructural inefficiencies and associated costs involved in export of goods/products, which are produced/manufactured in India, especially those having high export intensity, employment potential and thereby enhancing India’s export competitiveness.

Entitlement under MEIS

Exports of notified goods/products with ITC [HS] code, to notified markets as listed in Appendix 3B, shall be rewarded under MEIS. Appendix 3B also lists the rate(s) of rewards on various notified products [ITC (HS) code wise]. The basis of calculation of reward would be on realised FOB value of exports in free foreign exchange, or on FOB value of exports as given in the Shipping Bills in free foreign exchange, whichever is less, unless otherwise specified.

 

 


The above information is a part of Export Import Training course online


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Comments


Samir Banerjee: Under SEIS incentive scheme of FTP 2015-20, one of the requirement to avail incentive that Service Exporter must be holder of valid IEC. Was the IEC for service exporter required previously or it has made it mandatory due to incentive? Please confirm also let us know how & where a Service Exporter will apply for IEC

PRABIR KUMAR DEB: Greetings! we are tour operator and earning Foreign currency through Inbound tour. I want to know the following procedure through MEIS and SEIS under Foreign Trade Policy 2015-20 Scheme: 1) What is the Procedure to able the scheme 1) Where will be applied for Credit strip. 2) Have any Format to apply the credit Strip. 3) Required Documents for application. 4) Can I adjust this credit strip from Monthly Payable Service Tax. 5) When I can Apply for this Strip Please let me know immediately. thanks

Shivendra Pratap: IEC is mandatory for any activity related with import/export not only because MEIS or. DGFT which is governed by ministry of commerce & Industry,only from here you'll get IEC.Since last 31st of march it becomes online.

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