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Taxation – Merchandise exports from India Scheme (MEIS)

Taxation – Merchandise exports from India Scheme (MEIS)

MEIS (Merchandise Exports from India Scheme) – Export Scheme

CS Professional classesThese schemes involve issues of duty credit scrip there under which could be utilized for payment of duty of central excise on domestic procurement of inputs and capital goods, payment of customs duties on import of inputs or capital goods, and payment of service tax on input services as the case may be.

The scheme serves incentives in the form of duty credit scrip to the exporter to reimburse his loss of payment of duties. The incentive is rewarded as a percentage of the completed FOB value (in free foreign exchange) for notifying goods going to notified markets. To figure out the quantity of incentive, the countries have been segregated into three different groups. Incentives of each product for export at 8-digit level (ITC HS codes) rely on the group to which its destination country belongs.

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Procedure to apply for MEIS under the Foreign Trade Policy

Application through EDI Ports

An application for claiming rewards under MEIS on exports (other than export of goods through courier or foreign post offices using e-commerce) shall be filed online, using digital signatures, on the DGFT website at http://dgft.gov.in with RA concerned in ANF 3A. The relevant shipping bills and e-BRC (Bank Realization Certificate) shall be linked with the online application. If an application for export is made online then no need to submit physical documents (Application to DGFT, EDI Shipping Bills,  e-BRC, RCMC) with DGFT. The applicant shall submit the proof of landing.

Application through Non-EDI Ports

The Applicant needs to submit an export promotion copy of Non-EDI shipping Bills. The applicant shall submit the proof of landing. The applicant shall upload the scanned copies of any other prescribed documents for claiming scrip unless specified otherwise. However, no need to submit a hard copy of applications to e BRC, DGFT, RCMC by an applicant. Individual application for each port of export is to be filed.

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Benefits of MEIS

Duty credit Scrips granted as rewards. The scrips and goods imported /domestically procured against them shall be freely transferable. The Scrips can be used for following requirements:

  • Payment of Custom Duties for import of Inputs or Goods (certain exceptions).
  • Payment of Excise Duties on the domestic procurement of inputs or goods, including capital goods.
  • Payment of Service Tax on the procurement of services.
  • Payment of Custom Duties.

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