Merchandise Export from India Scheme (MEIS) Benefits to Exporters By CA Mohit Bansal



 

 About MEIS Benefit to Exporters

Why this Benefit?

 

To encourage and reward exporters for increased export performance and Foreign exchange earnings

Benefit Available on

Export Of:

Export of notified goods/products with ITC(HS) code, to notified markets, shall be rewarded with MEIS, Export of more than 4000 items are eligible to get benefit under MEIS.

Percentage of Benefit:

2%-5% of realised FOB value of export in Foreign Exchange.

Forms of Benefit

Duty Credit Scrip (Freely Transferable in market).

Usage Of Scrip

For Payment of Specified Custom Duties or can be sold in open market

Basic Requirement Of Company

Ø  Value Import Export Code(IEC)

Ø  Valid Registration Cum Membership Certificate(RCMC)

Ø  EDI shipping bills & e-BRC(Electronic Bank Realisation Certificate) for all shipping bills

Document Required

For examining eligibility

Ø  Copy Of Registration Cum Membership Certificate(RCMC)

Ø  EP Copy of shipping bills with electronic Bank Realisation Certificate

Ø  Export Turnover details for last 3 years

Ø  Copy Of Valid IEC

Ø  Past 3 years audited financial statement

Lex comply

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