9911796707
TMI BlogMEIS procedure for exportX X X X Extracts X X X X X X X X Extracts X X X X ..... MEIS procedure for export X X X X Extracts X X X X X X X X Extracts X X X X ..... ith reference to documentation and also wish to know draw back claim other relevant details. Thanks for your support. regards Srinivas Reply By MANISH SINHA: The Reply: Dear Mr. Srinivas, MEIS is based on your product and port of destination. In some cases it is given to product to be exported irrespective of country. For Example under Tariff heading 6208, MEIS is 5% of FOB applicable for al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l country. So it depends upon your product. For availment of the same Shipping bills to be filed with MEIS category. After receiving the SB, application to be made online on DGFT site and Hard copy of all application with Proof of Export to be submitted at DGFT office. Bank will also show the realization of Export Proceeds and it shall reflect in DGFT site. DGFT office sanctioned the same in form ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Duty Scrip. Duty scrip can be used against Purchase of dutiable goods or you can sold it in market also. Drawback is product i.e. HS code specific. SB to be filed under Duty Drawback option with relevent Drawback Sl No. For the same you should be registered at Port with Bank account No. Further after Export Drawback shall be credited in your account online. There two rates of Drawback i.e. Wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th Cenvat Facility and Without Cenvat Facility. With Regards, Manish Sinha Reply By Srivatsan Krishnamachari: The Reply: Dear Manish ji, Thank you very much. Please also clarify me, this draw back process need to start after dispatch only or need to give any formal intimation at DGFT. Any reference books can you suggest to understand full process of the export procedure. Thanking you, Sri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nivas Reply By CS SANJAY MALHOTRA: The Reply: Dear Mr. Srinivas, Nicely explained by Sh. Manish Sinha ji, Further to add that Drawback is claimed from Customs Department and for this you need to apprise your CHA to mention the fact of filing Shipping Bill under Duty Drawback Scheme. You need to provide Customs office with Bank Letter verifying your account details so that the same may be upda ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted in Customs Master and drawback may be transferred accordingly after the Exports of goods has taken place. Reply By MANISH SINHA: The Reply: Thank you Sir, Mr. Sanjay Malhotra ji for addition. Regards, Manish Reply By Kishan Barai: The Reply: Usage of MEIS Scrip, you can also convert that into cash if you sell those scrip to others, there are many brokers available for sell the scrip for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... you. (a) All scrips issued under MEIS and SEIS and the goods imported against these scrips would be fully transferable. (b) Scrips issued under Exports from India Schemes can be used for the following:- (i) Payment of customs duty for import of inputs / goods including capital goods, except items listed in Appendix 3A. (ii) Payment of excise duty on domestic procurement of inputs or goods, inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... luding capital goods as per DoR notification.
(iii) Payment of service tax on procurement of services as per DoR notification.
(c) Basic Customs Duty paid in cash or through debit under Duty Credit Scrip can be taken back as Duty Drawback as per DoR Rules, if inputs so imported are used for exports. X X X X Extracts X X X X X X X X Extracts X X X X
|
