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REWARD SCHEMES – MERCHANDISE EXPORTS FROM INDIA SCHEME (MEIS) Article explains what is Reward Scheme, Objective of MEIS Scheme, Eligibility Criteria for MEIS Cheme, Reward under the MEIS scheme, Ineligible categories under MEIS, Entitlement under MEIS for Export of goods through courier or foreign post offices and Note to MEIS Scheme. V...

The DGFT is a facilitator & TCS the chosen implementer for the DGFT platform. TCS is a multi-billion-dollar company operating worldwide but it appears that while working with the Indian bureaucracy the best hit the bottom & bite the dust & this seems to be the case. Granting status recognition should not require any applicatio...

Whole of the Trade & Industry is looking forward towards New Foreign Trade Policy 2021-26 on the background of the dream of Hon Prime Minister to make Indian Economy $ 5 Trillion by 2025 and appeal to the citizens be “Vocal for Local” and “Be Local and Go Global”. Ministry of Commerce is now with […]...

When DGFT chose TCS to revamp the website/platform, I was very happy that at least for once, this combination will make the life of the exporters better. However, my happiness was shattered just by the purposeless complications in the design of the website/platform whereas the earlier DGFT website was very plain & simple. I had [&hell...

Merchandise Exports from India Scheme is popularly known as MEIS Scheme. MEIS is a duty scrip given as a reward by the government to an exporter of goods. The value of the scrips is ranging from 2% to 5% of the FOB value of goods exported....

Remission of Duties and Taxes on Exported Products (RoDTEP) Remission of Duties and Taxes on Exported Products (RoDTEP) is a new scheme launched by the government to replace the existing MEIS scheme for exports of goods from India. RoDTEP Scheme, to benefit the exporters in place of MEIS was announced vide press release dated 31-Dec-2020,...

EOU, EHTP, STP & SCHEME 1. EOU, EHTP, STP & SCHEME units are setup for their export of entire production of goods and services (except permissible sale in DTA) 2. They can import input & capital goods without payment of customs duty. 3. STP, EHTP, BTP scheme are similar to EOU schemes and provisions are […]...

EXPORT PROMOTION SCHEME EXEMPTION SCHEMES Duty exemption scheme Advance Authorisation Scheme Duty free import authorisation scheme (DFIA) Duty Remission Scheme Duty Drawback Scheme (DBK) Sec. 75 customs Duty Remission Scheme under Central Excise law not applicable REWARD SCHEMES 1. Merchandise Export from India Scheme (MEIS) 2. Service Ex...

The Ministry of Commerce & Industry has issued a press release dated 12 Jan 2021 to give a brief on Parliamentary Consultative Committee meeting of Commerce and Industry on which was held to discuss “New Foreign Trade Policy 2021-26”. Please find below excerpts form press release for your perusal: The meeting was chair...

LEGISLATION ♣ Foreign Trade is regulated by ministry of commerce and industry. ♣ Director General of Foreign Trade handles full administration (DGFT). ♣ FTP is 5 years policy prepared under Foreign Trade Development & Regulation (D &R) Act 1992. ♣ Ministry and DGFT administered the FTP in formulation, control and superviso...