Export Incentive Scheme MEIS Has Not Been Discontinued, Government Clarifies
The portrait of Mahatma Gandhi is displayed on an Indian 2,000 rupee banknote in an arranged photograph. (Photographer: Brent Lewin/Bloomberg)

Export Incentive Scheme MEIS Has Not Been Discontinued, Government Clarifies

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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.

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