Goods and Services Tax : Duty Credit Scrips are goods as held by many Courts and the supply of the same liable to GST. Duty Credit Scrips covered under HSN...
Income Tax : 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 ...
CA, CS, CMA : 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...
Goods and Services Tax : Though the exporters were opting the RoDTEP Scheme, they had no idea about the rates to be notified under the scheme. However, the...
DGFT : In a major move aimed at boosting exports and offering relief to exporters, the government on 17th August 2021 notified Remiss...
DGFT : Government has released Rs 56,027 crore in order to clear pending export incentive dues to exporters, which is for various Schemes...
DGFT : Many of us are awaiting for DGFT online portal to start with online application filing of MEIS, SEIS and RoSL / RoSCTL for the exp...
DGFT : This report contains significant results of the performance audit on Merchandise Exports from India Scheme (MEIS) and Service Expo...
Corporate Law : The Government has restricted import of pulses like tur, moong and urad since August, 2017 with annual Quota Restriction of 5 lakh...
Custom Duty : Under section 14 of the Customs Act, 1962, Central Board of Indirect Taxes and Customs (CBIC) notifies the rate of exchange for th...
Corporate Law : Supreme Court held that once exports are genuine and fall within the notified category, inadvertent mistakes of procedure cannot b...
Custom Duty : Conversion of MEIS shipping bills to the DEPB scheme was permissible where bills not ‘free shipping bills as the scale of examin...
DGFT : Madras High Court held that the Merchandise Exports Incentive Scheme (MEIS) scrip can be cancelled even if the scrips are availed ...
Custom Duty : Delhi High Court held that rejection of Merchandise Exports from India Scheme (MEIS) benefit merely because amended shipping bills...
DGFT : Delhi High Court grants MEIS benefits to JSW Steel Limited despite procedural errors in shipping bills. Detailed analysis of the j...
Custom Duty : This Advisory is being issued to handle the post EGM amendment of shipping bill cases of MEIS scheme (since discontinued from Janu...
DGFT : MEIS and SEIS scheme have now been discontinued w.e.f. 01.01.2021 and 01.04.2020 respectively, and are on the verge of final closu...
DGFT : Extension of MEIS / Ad-hoc Incentive Scheme / ROSCTL / ROSL The last date for submitting applications under MEIS (for exports made...
DGFT : The last date of submitting applications under MEIS, SEIS, ROSCTL, ROSL and 2% additional ad hoc incentive (under para 3.25 of FTP...
DGFT : The last date of submitting applications under MEIS, SEIS, ROSCTL, ROSL and 2% additional ad hoc incentive (under para 3.25 of FTP...
The new five year Foreign Trade Policy (FTP) 2015-2020 introduces the ‘Service Exports from India Scheme (SEIS)’. This reward scheme shall come into force from the date of notification i.e. 1.04.2015. The rewards under SEIS shall be admissible for services rendered on or after the date of notification of this Policy.
Importer Exporter Code(IEC) holders having units in SEZs /EOUs shall apply to the concerned Development Commissioner of Special Economic Zones (SEZs) given in appendix 1A for availing benefit under Merchandise Exports from India Scheme (MEIS) and Service Exports from India Scheme (SEIS) provided in FTP 2015-2020.
Vide Notification Nos. 6/2013-ST, 7/2013-ST and 8/2013-ST, all dated 18.4.2013, Central Government had exempted the taxable services provided or agreed to be provided against a scrip by a person located in the taxable territory subject to certain conditions. Later, few other exemptions have been exempted vide Notification Nos. 10/2015-ST and 11/2015-ST, both dated 08.04.2015.
Due to some technical reasons, the MEIS/ SEIS licence cannot be registered in the EDI system (ICES 1.5v). Until the EDI module of the MEIS/SEIS scheme is operationalised, following procedure is prescribed for the Manual Registration of Duty Credit Scrips issued under Merchandise Exports from India Scheme (MEIS) and Service Exports from India Scheme (SEIS):
Investments are made in the secondary share markets with a view to capturing gains. In this market, out of nearly 8,000 listed companies, several scrips are not traded regularly. With the collusion of promoters, some brokers arrange for price(s) with purchase of such scrips at nominal costs, and sales at exorbitant prices, with a view to receiving money on sale as ‘capital gain’ when the long term gain is subjected to a ‘nil’ or nominal rate of tax.
Public Notice No. 28/2015-2020 In exercise of powers conferred under paragraph 2.04 of the Foreign Trade Policy 2015-2020 and in partial modification of public notice No 27 dated July 14, 2015, the Director General of Foreign Trade hereby makes the following amendments in Table 2 of Appendix 3B notified through Public Notice No.2 dated April 1,2015. This will be effective from July 14, 2015.
Additions/amendments in Table 1 (containing List of Country Groups) and Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B under the Merchandise Exports from India Scheme (MEIS) are notified.
It is the endeavour of DGFT to provide various trade related information in electronic format. At present this information is available on the website of the DGFT (http://www.dgft.gov.in). As part of trade facilitation, DGFT has now developed a mobile application which has been released for the Android platform. Mobile app has the following features:
NOTIFICATION NO. 62/2015-Cus (N.T.), Dated: June 17, 2015 In the Courier Imports and Exports (Clearance) Regulations, 1998 (hereinafter referred to as the said regulations), in regulation 2, in sub-regulation (2), in clause (e),- (a) for the sub-clause (iii), the following shall be substituted, namely:-
The Government is committed to improving ‘ease of doing business’ and move towards paperless submission and processing of various applications under Foreign Trade Policy (FTP). Trade is informed that a Beta version of online ANF 3A has now been released and it is now possible to not only apply online for claiming rewards under MEIS but also to upload the required supporting documents using digital signatures of the applicant
