Government Incentive Scheme to the Exporters

 

MEIS Scheme Introduction:- 

               Merchandise Exports From India Scheme(MEIS) is the government incentive scheme launched by the Government of India on 1st April 2015 in the foreign trade policy 2015-20 which aims to make Indian goods competitive in the global markets by offsetting infrastructural inefficiencies and associated costs involved in the export process.

Under MEIS Scheme exporters can avail the benefits in the form of Duty credit scrips which are transferable and can be sold in the open market at market rate. The following 5 Schemes were replaced by one MEIS Scheme which was present in earlier FTP.

• Focus Market Scheme,
• Focus Product Scheme,
• Vishesh Krishi Gramin Udyog Yojana,
• Market Linked Focus Product Scheme,
• Agri Infrastructure incentive scheme.

Duty Credit Scrip can be used for the following:-

Scrips obtained under MEIS Scheme can be used for the following payments

Rate of Reward Under MEIS Scheme:-

• Benefits are calculated as a percentage of FOB value of exports.
• MEIS rates are given in  Appendix 3B of FTP categorized as per ITC(HS) code.
• It varies from products to products.
• The rates are given in between 2% – 5%, for few specific products it may go up to 7%.
• Exporters can find MEIS rate on their products on DGFT site.

Eligibility criteria under MEIS Scheme:-

• On the shipping bills, scheme reward should be marked “Yes”. 
• E-BRC(bank realisation certificate) should be generated on DGFT site.

Documents required to claim MEIS benefits:-

The following documents required to avail the benefits under the MEIS scheme.

1. Shipping bills (Last three years from present Date)
2. DGFT Digital Signature Certificate
3. Valid RCMC copy
4. e-BRC(Bank realization certificate)

Procedure for the application Under MEIS:

• Online Application should be done on the Website of DGFT (www.dgft.gov.in ) where applicants need to select Online Ecom Application under Services Tab.
• The application needs to be done by filling the ANF 3A with the relevant shipping bills details & relevant e-BRC.
• Let Export Order(LEO) is the date taken for determining the rate of the benefits of the products which is given in shipping bills.
• DGFT issue the license after reviewing the application, or it may raise the query and ask for more documents for further clarifications, the applicant needs to submit all the required Documents to DGFT in the given time period.

Last Date for online application:-

• The application shall be filed within a period of 12 months from Let Export Order or 3 months from date of uploading EDI shipping bills onto DGFT site by customs without Late Cut under MEIS.
• Shipping bills are eligible for the application for 3 Years from LEO date mentioned on the shipping bills with Late Cut clause.
• Under MEIS Scheme application can be done Yearly, Half-yearly or quarterly basis or we can also submit one shipping bill also for claiming the benefits.
• The Shipping bills of different Financial Years can not be clubbed in one application.