MEIS

Waiver of Section 234B & 234C interest for delay in deposit of Advance/SA tax

Corporate Law - Waiver of interest u/s 234B and 234C of Income Tax Act on delay in deposit of advance tax/self-assessment (SA) tax on MEIS/RODTEP for the A.Y. 2021-22 1. CHAPTER 3 OF FOREIGN TRADE POLICY,2015-20 Exports of notified goods/products with ITC[HS] code, shall be rewarded under MEIS. Appendix 3B lists the rate(s) of rewards on various notified...

Last date for MEIS / SEIS / ROSCTL extended

Corporate Law - As we all are aware that online E Com portal for filing of MEIS, SEIS, ROSL and ROSCTL scheme was not working for a long which was activated and an end date was provided to claim all such pending authorization upto 31 December 2021. Although, MEIS application for the period September to December 2020 was […]...

RoDTEP: Is it Old wine in a new bottle?

Corporate Law - Though the exporters were opting the RoDTEP Scheme, they had no idea about the rates to be notified under the scheme. However, there was hope prevailing among all the stakeholders that the rate under the new scheme will not be less than MEIS, if not more than that....

Shift from MEIS to RoDTEP

Corporate Law - In a major move aimed at boosting exports and offering relief to exporters, the government on 17th August 2021 notified Remission of Duties and Taxes on Exported Products (RoDTEP) (guidelines) as part of the Chapter 4 provisions of the Foreign Trade Policy 2015-20– Notification No. 19/ 2015-20 dated 17 August 2021 to replace the...

Everything Exporters should know about RoDTEP – 50 important FAQs

Corporate Law - Background: Indian Exporters have been waiting for last 8 months for the announcement of the benefits under RoDTEP (Remission of Duties and Taxes on Exported Products) Scheme. Ministry of Commerce & Industry under Department of Commerce has finally come out with the Scheme Guidelines by issuing the Notification No. 19/2015-2020 dated ...

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Govt released Rs 56,027 crore to clear pending export incentive dues

Corporate Law - Government has released Rs 56,027 crore in order to clear pending export incentive dues to exporters, which is for various Schemes. In certain Schemes, such as MEIS, ROSCTL and ROSL, online applications are largely system approved, whereas for SEIS, TPS, FPS online applications require manual scrutiny and examination of documents. ...

Last Date for filing MEIS / SEIS Application

Corporate Law - Many of us are awaiting for DGFT online portal to start with online application filing of MEIS, SEIS and RoSL / RoSCTL for the exports made till December 2020. In the meantime, the Commerce Ministry has issued Notification No. 26/2015-2020 dated 16 September 2021 to notify Last date for submitting applications for scrip based FTP scheme...

Summary of Performance Audit on MEIS and SEIS

Corporate Law - This report contains significant results of the performance audit on Merchandise Exports from India Scheme (MEIS) and Service Exports from India Scheme (SEIS), which was conducted to seek an assurance on the success of facilitation measures introduced for simplifying the process of issuance of scrips and to examine effective linkage of ru...

Exempting Pulses from Import

Corporate Law - The Government has restricted import of pulses like tur, moong and urad since August, 2017 with annual Quota Restriction of 5 lakh MT (2 lak MT for tur, 1.5 lakh MT each for urad and moong) in order to stabilise the prices and protect the interest of the farmers....

CBIC to notify WON and TRY in list of currencies for exchange rate

Corporate Law - Under section 14 of the Customs Act, 1962, Central Board of Indirect Taxes and Customs (CBIC) notifies the rate of exchange for the purpose of conversion of foreign exchange to Indian Rupees and vice versa for assessment of imports & exports....

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MEIS Scheme benefit cannot be given if petitioner not opted for it in Shipping Bill

Adroit Industries (India) Ltd. Vs Union of India (Madhya Pradesh High Court) - Adroit Industries (India) Ltd. Vs Union of India (Madhya Pradesh High Court) Facts of the case are not in dispute to the effect that the petitioner during the relevant period i.e. 2015-20 was entitled to avail the benefit of MEIS but could not avail of such benefit as the concerned staff did not dec...

MEIS benefit cannot be granted merely on the basis of pleadings which are prima facie insufficient on the face of records

Ashwini Ashish Dighe Vs Union of India (Bombay High Court) - In view of absence of documentary evidence, and the findings and discussion hereinabove, the Petitioner cannot be granted MEIS benefit merely on the basis of pleadings which are prima facie insufficient on the face of record. Hence the Petition must fail....

Custom duty dues cannot be recovered indirectly by blocking Export Incentives

M. k. Exim (India) Limited Vs Union of India (Rajasthan High Court) - M. k. Exim (India) Limited Vs Union of India (Rajasthan High Court) We have also perused the guidelines issued by the Directorate General of Foreign Trade under circular dated 31.12.2003 for maintaining the denied entities list. It records that most common instance of action leading to refusal of li...

MEIS cannot be denied on exports through DHL to a destination abroad

Jindal Drugs Private Limited Vs Union of India (Madras High Court) - Jindal Drugs Private Limited Vs Union of India (Madras High Court) In this case, supply has been made by the petitioner to FTWZ for onward shipment at the behest of the purchaser, UTEXAM, to a location of its choice. This modus operandi is supported by the documentation placed on record by the petit...

Substantial benefit under MEIS scheme cannot be denied for inadvertent human error

K.I.International Limited Vs Commissioner of Customs (Madras High Court) - HC set aside the order rejecting the claim of assessee that disentitled assessee from claiming MEIS Scheme benefits and held that, assessee will be entitled for such benefits and shipping bills reveal a clear intention of the assessee to avail benefit under MEIS Scheme and directs Revenue Department...

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Last date extended for applications under MEIS, ROSCTL, ROSL

Notification No: 58/2015-2020 [S.O.1012(E)] - (07/03/2022) - Extension of MEIS / Ad-hoc Incentive Scheme / ROSCTL / ROSL The last date for submitting applications under MEIS (for exports made in the period – 01.04.2020 to 31.12.2020), ROSCTL, ROSL and 2% additional ad hoc incentive (under para 3.25 of FTP, only for exports made in the period 01.01.2020 ...

Last Date to Submit applications for MEIS, SEIS, ROSCTL, ROSL extended

Notification No: 53/2015-2020 [S.O.419(E).] - (01/02/2022) - The last date of submitting applications under MEIS, SEIS, ROSCTL, ROSL and 2% additional ad hoc incentive (under para 3.25 of FTP) which was earlier notified to be 31.01.2022 has been extended to 28.02.2022....

Extension of Last Date for Submitting applications for Scrip based FTP Schemes

Notification No. 48/2015-2020-DGFT [S.O. 5490(E)] - (31/12/2021) - The last date of submitting applications under MEIS, SEIS, ROSCTL, ROSL and 2% additional ad hoc incentive (under para 3.25 of FTP) which was earlier notified to be 31.12.2021 has been extended till 31.01.2022....

DGFT amends MEIS schedule

Public Notice No. 43/2015-20 [F. No. 01/61/180/ 107/AM21/PC-3/E-23249] - (16/12/2021) - Certain additions/amendments have been made to Table 2 of Appendix 3B, the MEIS schedule to harmonize it with Notification No. 48 dated 22.12.2020 and changes as enacted by the Finance Act 2020. Also Read: Corrigendum to Public Notice No. 43/2015-2020 dated 16.12.2021 Government of India Ministry of...

MEIS/SEIS/ ROSL/ROSCTL applications will get time barred after 31.12.2021

Trade Notice No. 22/2021-22-DGFT - (02/11/2021) - MEIS/SEIS/ ROSL/ROSCTL Claim- Exporters may kindly note that after 31.12.2021, the Online IT system will not be operational and no applications/claims under the mentioned schemes can thereafter be submitted. It has also been notified that the facility for filing applications, with a late cut provisi...

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