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TMI BlogEXPORTS FROM INDIA SCHEMESX X X X Extracts X X X X X X X X Extracts X X X X ..... R notification. (iv) Payment of Customs Duty and fee as per paragraph 3.18 of this Policy.] Merchandise Exports from India Scheme (MEIS) 3.03 Objective Objective of Merchandise Exports from India Scheme (MEIS) is to offset infrastructural inefficiencies and associated costs involved in export of goods/products, which are produced/manufactured in India, especially those having high export intensity, employment potential and thereby enhancing India's export competitiveness. 3.04 Entitlement under MEIS Exports of notified goods/products with ITC[HS] code, to notified markets as listed in Appendix 3B, shall be rewarded under MEIS. Appendix 3B also lists the rate(s) of rewards on various notified products [ITC (HS) code wise]. The basis of calculation of reward would be on realised FOB value of exports in free foreign exchange, or on FOB value of exports as given in the Shipping Bills in free foreign exchange, whichever is less, unless otherwise specified. 3.05 Export of goods through courier or foreign post offices using e-Commerce (i) Exports of goods through courier or foreign post office using e-commerce, as notified in Appendix 3C, of FOB value upto ₹ 25000 per consi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EIS) 3.07 Objective Objective of Service Exports from India Scheme (SEIS) is to encourage export of notified Services from India. 3.08 Eligibility (a) Service Providers of notified services, located in India, shall be rewarded under SEIS, subject to conditions as may be notified. Only Services rendered in the manner as per Para 9.51(i) and Para 9.51(ii) of this policy shall be eligible. The notified services and rates of rewards are listed in Appendix 3D. (b) Such service provider should have minimum net free foreign exchange earnings of US$15,000 in preceding financial year to be eligible for Duty Credit Scrip. For Individual Service Providers and sole proprietorship, such minimum net free foreign exchange earnings criteria would be US$10,000 in preceding financial year. (c) Payment in Indian Rupees for service charges earned on specified services, shall be treated as receipt in deemed foreign exchange as per guidelines of Reserve Bank of India. The list of such services is indicated in Appendix 3E. (d) Net Foreign exchange earnings for the scheme are defined as under: Net Foreign Exchange = Gross Earnings of Foreign Exchange minus Total expenses / payment / remittances of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tes (as given in Appendix 3D) on net foreign exchange earned. 3.11 Remittances through Credit Card and other instruments for MEIS and SEIS Free Foreign Exchange earned through international credit cards and other instruments, as permitted by RBI shall also be taken into account for computation of value of exports. 3.12 Effective date of schemes (MEIS and SEIS) The schemes shall come into force with effect from the date of notification of this Policy, i.e. the rewards under MEIS/SEIS shall be admissible for exports made/services rendered on or after the date of notification of this Policy. 3.13 Special Provisions (a) Government reserves the right in public interest, to specify export products or services or markets, which shall not be eligible for computation of entitlement of duty credit scrip. (b) Government reserves the right to impose restriction / change the rate/ceiling on Duty Credit Scrip under this chapter. (c) Government may also notify goods in Appendix 3A which shall not be allowed for debiting through Duty Credit Scrips in case of import. (d) Government may prescribe value cap of any kind for a product(s) or limit total reward per IEC holder under this chapter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t scrips can also be used for payment of composition fee under FTP, for payment of application fee under FTP, if any and for payment of value shortfall in EO under para 4.49 of HBP 2015-20. 3.19 Risk Management System (a) A Risk Management System shall be in operation whereby every month Computer system in DGFT Headquarters, on random basis, will select 10% of cases for each RA where scrips have already been issued, under each scheme. RA in turn may call for original documents in all such selected cases for further examination in detail. In case any discrepancy and/ or over claim is found on such examination, the applicant shall be under obligation to rectify such discrepancy and/or refund over claim in cash with interest at the rate prescribed under section 28 A A of the Customs Act 1962, from the date of issue of scrip in the relevant Head of Account of Customs within one month. The original holder of scrip, however, may refund such over claim by surrendering the same scrip whether partially utilized or fully unutilized, without interest. (b) Regional Authority may ask for original proof of landing certificate, annexures attached to ANFs or any other document, which has been u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cated in Agri Export Zones. (b) Double Weightage shall be available for grant of One Star Export House Status category only. Such benefit of double weightage shall not be admissible for grant of status recognition of other categories namely Two Star Export House, Three Star Export House, Four Star export House and Five Star Export House. (c) A shipment can get double weightage only once in any one of above categories. 3.23 Other conditions for grant of status (a) Export performance of one IEC holder shall not be permitted to be transferred to another IEC holder. Hence, calculation of exports performance based on disclaimer shall not be allowed. (b) Exports made on re-export basis shall not be counted for recognition. (c) Export of items under authorization, including SCOMET items, would be included for calculation of export performance. 3.24 Privileges of Status Holders A Status Holder shall be eligible for privileges as under: (a) Authorisation and Customs Clearances for both imports and exports may be granted on self-declaration basis; (b) Input-Output norms may be fixed on priority within 60 days by the Norms Committee; (c) Exemption from furnishing of Bank Guarantee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re of Rewards Duty Credit Scrips shall be granted as rewards under MEIS and SEIS. The Duty Credit Scrips and goods imported / domestically procured against them shall be freely transferable. The Duty Credit Scrips can be used for : (i) Payment of Customs Duties for import of inputs or goods, except items listed in Appendix 3A. (ii) Payment of excise duties on domestic procurement of inputs or goods, including capital goods as per DoR notification. (iii) Payment of service tax on procurement of services as per DoR notification. (iv) Payment of Customs Duty and fee as per paragraph 3.18 of this Policy." 2. Substituted vide Not. 08/2015-2020 - Dated 4-6-2015 w.e.f. 1st April 2015 3.06 Ineligible categories under MEIS The following exports categories /sectors shall be ineligible for Duty Credit Scrip entitlement under MEIS (i) EOUs / EHTPs / BTPs/ STPs who are availing direct tax benefits / exemption. (ii) Supplies made from DTA units to SEZ units (iii) Export of imported goods covered under paragraph 2.46 of FTP; (iv) Exports through trans-shipment, meaning thereby exports that are originating in third country but trans-shipped through India; (v) Deemed Exports; (vi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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