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Merchandise Exports from India Scheme (MEIS)
Merchandise Exports from India Scheme (MEIS):- Govt Incentives for Export of goods-2% to 5%
This scheme Shall Come into force w.e.f. 1st April 2015
The Government of India has brought in the Merchandise Exports Incentive Scheme (MEIS), replacing five other similar incentive schemes present in the earlier Foreign Trade Policy 2009-14. The schemes that have been replaced by the MEIS scheme include:
Focus Product Scheme (FPS)
Focus Market Scheme (FMS)
Market Linked Focus Product Scheme (MLFPS)
Agri. Infrastructure incentive scheme
Vishesh Krishi Gramin Upaj Yojna (VKGUY)
As per the present FTP, the MEIS scheme does not aim to merely replace these five schemes but also aims to rationalize the incentives and enlarges their scopes by removing various restrictions
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.
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.