Merchandise Exports from India Scheme (MEIS)

In the new Foreign Trade Policy-2015-2020, with effect from 1.4.2015, 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)/ Vishesh Krishi Gramin Udyog Yojana (VKGUY), available under the Foreign Trade Policy 2009-2014, but it rationalize the incentives under the erstwhile Schemes, removes various kind of restrictions and significantly enlarge the scope of the earlier schemes. 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.

Procedures:

An Application for claiming rewards under MEIS on Exports, shall be filed on line, using digital signature, in ANF 3A.The relevant shipping Bills and e- BRC shall be linked with the on line application. In case application is filed for export made through EDI ports, then hard copy of the following documents needs not be submitted to RA, hard copy of application to DGFT, EDI shipping Bills, electronic Bank realization certificate (e- BRC) and RCMC, however in case of Non EDI port said documents needs be submitted to RA. The applicant shall submit the proof of landing in the manner prescribed in Para 3.03 of Hand book procedures of FTP 2015-20. However exports effect from 4th of May 2016 Landing Certificates not required.

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.
• We may also give presentation for better understanding of the scheme.