MEIS
What is Merchandise Exports from India Scheme (MEIS) Scheme
A scheme designed to provide rewards to exporters to offset infrastructural inefficiencies and associated costs. 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 Basic Customs Duty and Additional Customs Duty specified under sections 3(1), 3(3) and 3(5) of the Customs Tariff Act, 1975 for import of inputs or goods, including capital goods, as per DoR Notification, except items listed in Appendix 3A.
(ii) Payment of Central excise duties on domestic procurement of inputs or goods,
(iii) Payment of Basic Customs Duty and Additional Customs Duty specified under Sections 3(1), 3(3) and 3(5) of the Customs Tariff Act, 1975 and fee as per paragraph 3.18 of this Policy.
Objective of the Merchandise Exports from India Scheme (MEIS) is to promote the manufacture and export of notified goods/ products.
Pre-Requisites for Applying for MEIS Scheme
To apply for MEIS scheme, an IEC is required. Other pre-requisites as mentioned in the Chapter 3 of Foreign Trade Policy and Hand book of Procedures may be referred.
Definition
MEIS was a flagship incentive scheme under the Foreign Trade Policy (2015-20), designed to reward exporters of notified goods to specified countries. Exporters received duty credit scrips as a percentage of the FOB value of exports. The scheme has been discontinued and replaced by RoDTEP in line with WTO compliance requirements.
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