CA Sandeep Kanoi

CA Sandeep KanoiAs we are aware recently Foreign Trade Policy, 2015-20 (‘FTP’) was announced by Hon’ble Minister of Commerce and Industry, Smt. Nirmala Sitharaman on April 1, 2015. In the policy on of the significant announcement was introduction ofMerchandise Export from India Scheme (‘MEIS’) in place of existing five schemes i.e. Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri. Infrastructure Incentive Scrip, VKGUY.

MEIS reward rates (2%/3%/5%) specified for export of notified goods to notified markets [categorized into 3 groups, viz. Country Group A, B and C] as a percentage of realized FOB value in free foreign exchange.
Now Readers may be willing to know how to know the rate of MEIS for the country they are exporting. In this article we are explaining the Procedure for the same –
1. Go to Website – http://dgft.gov.in/. On the website Click on Know MEIS rate for a product. Located at Center of the website in Current Informations as circled in screen shot given below-
MEIS 1
2.  After you click on the link given above the following link will open- Visit http://dgftcom.nic.in/licasp/MEIS/MEIS2015.asp and Following Window will appear in which you have to enter either ITC(HS) Code  or Code of your Item.
MEIS 2
Please Note :
1. ITC(HS) Code – Minimum 6 and maximum 8 Characters [0-9] only
2. Item Detail – Maximum 10 Characters long
3. Atleast one of the above input is mandatory
3. Once you enter  ITC(HS) Code or Code of your Item the following window will open showing the MEIS rate of your item based on Country Grouped in A,B,C Category-
MEIS 3In above example we have taken ITC-HS code 300610 of  Other: sterile surgical catgut, similar sterile suture materials (including sterile absorbable surgical or dental yarns) and sterile tissue adhesives for surgical wound closure; sterile laminaria and sterile laminaria tents; sterile absorbable surgical or dental. You can input code of your items.
So we now come to know the rate of MIES based Countries Classified in Category A,B and C. List of Countries as per classification is as follows :-
Country Group A(1) Austria,  (2) Belgium,  (3) Bulgaria,  (4) Canada,  (5) Croatia,  (6) Cyprus, (7) Czech Republic,  (8) Denmark,  (9) Estonia,  (10) Finland,  (11) France,  (12) Germany,  (13) Greece,  (14) Hungary,  (15) Ireland,  (16) Italy,  (17) Latvia,  (18) Lithuania,  (19) Luxembourg,  (20) Malta,  (21) Netherlands,  (22) Poland,  (23) Portugal,  (24) Romania,  (25) Slovak Republic,  (26) Slovenia,  (27) Spain,  (28) Sweden,  (29) United Kingdom,  (30) United States of America (Total 30 Countries)

Country Group B
(1)Algeria,  (2) Angola, (3) Antigua,  (4) Argentina,  (5) Armenia,  (6) Azerbaijan,  (7) Bahamas,  (8) Bahrain ,  (9) Barbados,  (10) Belarus,  (11) Belize,  (12) Benin, (13) Bermuda,  (14) Bolivia,  (15) Botswana,  (16) British Virgin Islands, (17) Brazil,  (18) Brunei,  (19) Burkina Faso,  (20) Burundi,  (21) Central African Republic,  (22) Cambodia,  (23) Cameroon,  (24) Canary Island, (25)  Cape Verde Island,  (26) Cayman Island,  (27) Chad,  (28) Chile,  (29) China PRP,  (30) Colombia,  (31) Comoros,  (32) Congo Democratic Republic,  (33) Congo Republic,  (34) Costa Rica,  (35) Cote D’ Ivoire,  (36) Cuba,  (37) Djibouti,  (38) Dominic Rep,  (39) Dominica,  (40) Ecuador,  (41) Egypt ,  (42) El Salvador,  (43) Equatorial Guinea, (44) Ethiopia,  (45) Falkland Island,  (46) French Guiana,  (47) Gabon, (48) Gambia,  (49) Georgia,  (50) Ghana, (51) Grenada,  (52) Guadeloupe,  (53) Guatemala,  (54) Guinea,  (55) Guinea Bissau,  (56) Guyana,  (57) Haiti,  (58) Honduras,  (59) Indonesia,  (60) Iran,  (61) Iraq,  (62) Israel,  (63) Jamaica,  (64) Japan,  (65) Jordan,  (66) Kazakhstan,  (67) Kenya,  (68) Korea Republic (south Korea),  (69) Kuwait,  (70) Kyrgyzstan,  (71) Lao PDR,  (72) Lebanon,  (73) Lesotho,  (74) Liberia,  (75) Libya, (76) Madagascar,  (77) Malawi,  (78) Malaysia,  (79) Mali, (80) Martinique,  (81) Mauritania,  (82) Mauritius,  (83) Mexico,  (84) Moldova,  (85) Montserrat,  (86) Morocco,  (87) Mozambique,  (88) Myanmar,  (89) Namibia,  (90) Netherland Antilles,  (91) Nicaragua,  (92) Niger,  (93) Nigeria,  (94) Oman,  (95) Panama Republic,  (96) Paraguay,  (97) Peru,  (98) Philippines,  (99) Qatar,  (100) Reunion,  (101) Russia,  (102) Rwanda,  (103) Sao Tome,  (104) Saudi Arab,  (105) Senegal,  (106) Seychelles,  (107) Sierra Leone,  (108) Singapore,  (109) Somalia,  (110) South Africa,  (111) St Helena,  (112) St Kitt N A,  (113) St Lucia,  (114) St Vincent,  (115) Sudan,  (116) Suriname,  (117) Swaziland,  (118) Syria,  (119) Taiwan,  (120) Tajikistan,  (121) Tanzania Republic, (122) Thailand,  (123) Togo,  (124) Trinidad,  (125) Tunisia,  (126) Turkey,  (127) Turkmenistan,  (128) Turks and Caicos Islands,  (129) United Arab Emirates,  (130) Uganda,  (131) Ukraine,  (132) Uruguay,  (133) Uzbekistan,  (134) Venezuela,  (135) Vietnam Socialist Republic,  (136) Virgin Island Us, (137) Yemen Republic, (138) Zambia,  (139) Zimbabwe.(139 Countries)
Country Group C(1)Afghanistan,  (2) Albania,  (3) American Samoa,  (4) Andorra,  (5) Anguilla,  (6) Antarctica,  (7) Aruba,  (8) Australia,  (9) Bangladesh,  (10) Bhutan,  (11) Bosnia and Herzegovina, (12) Channel Islands,  (13) Christmas Islands,  (14) Cocos Islands,  (15) Cook Islands,  (16) Eritrea,  (17) Faroe Islands,  (18) Fiji Island,  (19) French Polynesia,  (20) French Southern and Antarctic Lands (Fr S Ant Tr),  (21) Gibraltar,  (22) Greenland,  (23) Guam,  (24) Heard Macdonald,  (25) Hong Kong,  (26) Iceland,  (27) Kiribati Rep,  (28) Korea DPR (North Korea),  (29) Liechtenstein,  (30) Macao,  (31) Macedonia,  (32) Maldives,  (33) Marshall Islands,  (34) Micronesia,  (35) Monaco,  (36) Mongolia,  (37) Montenegro,  (38) N. Mariana Islands,  (39) Nauru Republic,  (40) Nepal, (41) Neutral Zone,  (42) New Caledonia,  (43) New Zealand,  (44) Niue Islands,  (45) Norfolk Islands, (46) Norway,  (47) Pacific Islands,  (48) Pakistan,  (49) Palau, (50) Panama,  (51) Papua New Guyana,  (52) Pitcairn Islands,  (53) Puerto Rico,  (54) SaharwiA.Dm Republic, (55) Samoa,  (56) San Marino,  (57) Serbia,  (58) Solomon Island,  (59) Sri Lanka DSR,  (60) St Pierre,  (61) Switzerland,  (62) Timor Leste,  (63) Tokelau Islands,  (64) Tonga, (65) Tuvalu,  (66) Serbia (67) Montenegro,  (68)Vanuatu Republic,  (69) Territory of the Wallis and Futuna Islands(70) Any other country not listed in the Country Groups abovewill be treated as part of Country Group C (70 Countries)

Author Bio

Qualification: CA in Practice
Company: Taxguru / Sandeep Kanoi & Associates
Location: Mumbai, Maharashtra, IN
Member Since: 27 Feb 2017 | Total Posts: 664
A Blogger by Passion and a Chartered Accountant by Profession. View Full Profile

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13 Comments

  1. Ankur Garg says:

    In my case as per FMS incentive was 4% however now under MEIS incentive in majority codes relating to us is 2/3%. Incentive loss to us.

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