MEIS scheme – How you can declare incentives on lapsed / expired delivery expenses

The Products Exports from India Scheme (MEIS) is a duty-free scheme for export of products manufactured in India. It was once introduced on 1 April 2015. The scheme is appropriate to all kinds of items, apart from prohibited and limited pieces, as indexed in Time table I and II of the International Business Coverage 2012-2015.

Products exports from India scheme (MEIS) is an export promotion scheme for Indian producers, exporters and repair suppliers. MEIS supplies responsibility loose get entry to to Indian manufactured items for exports to nations with which India does no longer have a bilateral Unfastened Business Settlement (FTA). The scheme has been presented with the target of offering an incentive for exports, thereby serving to within the enlargement of exports and employment alternatives within the nation.

Everyone seems to be mindful that MEIS window for all of the years has expired now and the exporters are not ready to use for MEIS. So what’s to be accomplished if a few of your delivery expenses have expired/lapsed because of any causes? Will you be capable to get get advantages on the ones delivery expenses or no longer?

The solution is Sure, You’ll be able to nonetheless declare get advantages on the ones expired delivery expenses by way of making use of to the Coverage Leisure Committee (PRC Committee) at DGFT HQ, New Delhi and take a unique approval.

So on this weblog, we can speak about about all of the circumstances that would possibly get cleared within the PRC committee and also you could possibly declare the advantages. Please learn the weblog during.

 

Case 1 – Cost discovered inside 3 years from LEO Dt. however e-brc no longer uploaded by way of Banker on time.

As everyone is aware of, that e-brc is a compulsory report to be submitted for MEIS declare. On this case e-brc was once no longer generated on time. It is a mistake/lengthen on a part of the banker and the exporter isn’t at fault, therefore, this kind of circumstances can get the approval from PRC committee.

Case 2 – Transport Expenses No longer transmitted from Customs inside time, however now transmitted.

Likewise, on this example, the error/lengthen is at the a part of Customs/on-line machine and there is not any fault of exporter. Such form of circumstances too can get approval. However the exporter has to ensure that the SB is now transmitted by way of the Customs and is to be had within the DGFT server for software.

Case 3 – IEC was once in Alert or Defaulter Listing (DEL Listing), and now it isn’t.

Because the DGFT machine does no longer permit to make an software when the exporter is in DEL listing because of any causes. As soon as the Exporter clears the pending factor and is out of the DEL listing, then he can manner the PRC Committee to get a unique approval to say MEIS on all of the expired/lapsed Transport Expenses.

Case 4 – Cost won after 3 years from LEO Dt. Of Transport Expenses

So what if Cost won after 3 years from LEO Dt. Of Transport Expenses, Most commonly the PRC committee is rejecting such circumstances for MEIS Declare, except there’s a very authentic explanation why and advantage within the case.

Case 5 – Transport Expenses expired because of untimely Closure of MEIS window

As all mindful, for a four-month software duration i.e. September 2020 to December 2020, the Remaining date of software was once 31st August 2022. So almost exporters were given best approx. 1.5 yrs. of time from the SB date to say the advantages. While RBI permits fee to be discovered until 3 yrs. from LEO Dt. What if the exporter has discovered fee after 1.5 yrs., however inside 3 yrs. as consistent with RBI prohibit? So in all such circumstances additionally, the exporter isn’t at fault and will follow to PRC committee for particular approval.

Over and above all of the above issues, if any authentic issue was once confronted by way of the exporter, when it was once made to shuffle between two government for purchasing the paintings accomplished, and in the intervening time the SB or Invoice of Export were given expired, then there’s advantage within the case and Leisure could also be granted.

 

DISCLAIMER:

Pricey audience please be aware that those are simply the information that we’re sharing and it does no longer ensure you any leisure. Without equal choice will probably be taken by way of the PRC committee on a case to case foundation and on advantage.

 

How are we able to assist you to?

We at Afleo Crew, are a group of DGFT & Customs Mavens having a wealthy revel in of 10+ Years in Exim Consultancy & Global Logistics. With our huge wisdom and revel in on this box we will be able to constitute your case in entrance of the PRC Committee and make sure essential particular approvals.

So do get in contact with us for any of your necessities and our group will probably be satisfied that will help you.

Tell us when you have any queries or necessities of such circumstances.

We request you to proportion this weblog along with your different Trade pals, Business associations, as this knowledge would possibly assist them as smartly.

Thank You.

 

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