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...
Notification No. 38/2015-Customs Dated-15th June, 2015 – Amendment in notification no 24/2015-Customs dated 08.04.2015 regarding Export categories or sectors ineligible for duty credit scrip entitlement.
Notification No. 08/2015-2020 Dated- 4th June , 2015Mandatory documents for export / import of goods from / into India (a) Mandatory documents required for export of goods from India: 1. Bill of Lading/ Airway Bill / Lorry Receipt / Railway Receipt / Postal Receipt. 2. Commercial Invoice cum Packing List 3. Shipping Bill/Bill of Export
In the Foreign trade Policy 2015-2020, there are two scheme introduced for exports of Merchandise and Services respectively: Merchandise Exports from India Scheme (MEIS) Service Exports from India Scheme (SEIS) The objective of the scheme is to provide rewards to exporters to offset infrastructural inefficiencies and associated costs involved and to provide exports a level […]
Circular No. 14/2015-Cus., dated 20th April 2015 Reward in the form of duty credit shall be issued by the DGFT to service providers of notified services located in India under the Service Exports from India Scheme (SEIS) or to export of notified goods (including from SEZs) to notified markets / countries under the Merchandise Exports from India Scheme (MEIS) of the Policy.
Notification No. 24/2015 – Customs Dated- 8th April, 2015 Central Government hereby exempts goods when imported into India against a duty credit scrip issued by the Regional Authority under the Merchandise Exports from India Scheme in accordance with paragraph 3.04 read with paragraph 3.05 of the Foreign Trade Policy
Notification No. 20/2015-Central Excise Dated- 8th April, 2015 Govt. exempts goods specified in First Schedule and Second Schedule to Central Excise Tariff Act, 1985 , when cleared against a duty credit scrip issued by the Regional Authority under Merchandise Exports from India Scheme
Notification No. 11/2015 – Service Tax Dated- 8th April, 2015 Central Government exempts taxable services provided or agreed to be provided against a scrip by a person located in the taxable territory from whole of the service tax leviable thereon under section 66B of the said Act.
Notification No. 10/2015 – Service Tax Dated- 8th April, 2015 Central Government exempts taxable services provided or agreed to be provided against a Merchandise Exports from India Scheme duty credit scrip (MEIS) by a person located in the taxable territory from the whole of the service tax leviable thereon
Amendments in DGFT Notifications- Merchandise Exports from India Scheme (MEIS) – Schedule of country groups, ITC (HS) code wise list of products with reward rates under Appendix 3B: The DGFT has notified the Appendix 3B which contains Table 1-List of Country Groups and Table 2-ITC (HS) code wise list of products with reward rates under MEIS. DGFT P/Notice No 02/2015-20 Dated 1st April 2015
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 –
