Export Incentive Scheme MEIS Has Not Been Discontinued, Government Clarifies
The commerce ministry has clarified that Merchandise Exports from India Scheme has not been discontinued from Aug. 1 this year.
The commerce ministry has clarified that export incentive scheme Merchandise Exports from India Scheme has not been discontinued from Aug. 1 this year and an inter-ministerial consideration is going on for continuation of 2 percent increase for labour intensive sectors.
Under MEIS, the government provides duty benefits depending on product and country.
Rewards under the scheme are payable as percentage of realised free-on-board value and MEIS duty credit scrip can be transferred or used for payment of a number of duties including the basic customs duty.
"There has been confusion about MEIS/RoSCTL (Rebate of State and Central Taxes and Levies). It is clarified that MEIS has not been discontinued w.e.f. 1.8.2019.
"The issues under inter-ministerial consideration are - continuation of 2 percent increase sanctioned w.e.f.1.11.2017 in labour intensive/MSME sectors," the Directorate General of Foreign Trade said in a tweet.
DGFT under the ministry deals with export and import related issues.
"Continuation of MEIS for RMG and made-ups, continuation of RoSL with existing MEIS rates or RoSCTL only for RMG & made-ups," it said.
It added that the government decision would be notified on these issues at the earliest.
"MEIS system has been blocked for LEO (Let Export Order ) after 1.8.2019 till then. We are sorry," it added.