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Merchandise Exports From India

The Merchandise Export from India Scheme (MEIS) is a government program introduced by the Government of India aimed at promoting exports. Launched on April 1, 2015, it forms a key component of the Foreign Trade Policy (FTP) and seeks to enhance India’s export of goods and services.

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Why Should I Use Auriga Accounting For Merchandise Exports From India?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your Merchandise Exports From India.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for Certificate

Complete your Certificate

Ready Your Merchandise Exports From India

Overview
Background
Incentive
Ineligibility
Procedure
Duration

Overview - Merchandise Exports From India

From 2015 to 2020, the Merchandise Exports from India Scheme (MEIS) was integrated into the Foreign Trade Policy (FTP). The MEIS was designed to promote the export of goods by providing exporters with incentives in the form of duty credit scrips. The Directorate General of Foreign Trade (DGFT) oversees the notification of the MEIS, while its implementation is carried out by the Ministry of Commerce and Industry.

An IEC holder can receive a maximum reward of Rs. 2 Crore under the Merchandise Exports from India Scheme (MEIS) for exports made between September 1, 2020, and December 31, 2020, based on the Let Export Order (LEO) date of the shipping bill(s). Any IEC holder who did not export goods with an LEO date between September 1, 2019, and August 31, 2020, or who acquired a new IEC on or after September 1, 2020, is ineligible to submit a claim for MEIS benefits for exports made post-September 1, 2020. Additionally, the total claims under the Scheme for the specified period may be further limited to ensure that they do not exceed Rs. 5,000 crores.

Background to MEIS

The Merchandise Exports from India Scheme (MEIS) has replaced several previous export incentive programs that provided various types of duty credit scrips. These programs included the Focus Market Scheme (FMS), Focus Product Scheme (FPS), Vishesh Krishi Gramin Udyog Yojana (VKGUY), Market Linked Focus Product Scheme (MLFPS), and the Agri Infrastructure Incentive Scheme. All duty credit scrips issued under these earlier schemes have been transitioned to the MEIS.

MEIS Incentive

Under the Foreign Trade Policy (FTP) 2015-20, the Merchandise Exports from India Scheme (MEIS) aims to promote exports of goods that are manufactured or produced in India. The scheme is designed to enhance the competitiveness of Indian exports by providing incentives to industries engaged in the manufacturing of widely exported goods.

MEIS applies to a list of goods specifically notified for the scheme. The incentives are calculated as a percentage—ranging from 2% to 5%—of the realized Free-on-Board (FOB) value of exports, which must be earned in free foreign exchange. This calculation is based on FOB values stated in shipping bills. Incentives are provided in the form of MEIS duty credit scrips. Notably, ‘free foreign exchange’ encompasses earnings from international credit cards and other methods permitted by the Reserve Bank of India (RBI).

Ineligibility for Benefits Under MEIS

  • Products exported from SEZ/EOU/EHTP/FTWZ through DTA units.
  • Supplies to SEZ units from DTA units.
  • Deemed exports.
  • Export of imported goods as outlined in paragraph 2.46 of the FTP.
  • Commodities that are subject to a minimum export duty or minimum export price.
  • Exports via transshipment, specifically those originating in a third country but transshipped through India.
  • Exports initiated by units in Free Trade and Warehousing Zones (FTWZ).

MEIS Incentive Application Procedure

To claim duty credit scrip entitlements under MEIS, you should submit an online application using Form ANF 3A with a digital signature. The applicant must provide hard copies of the application submitted to the DGFT, along with EDI (Electronic Data Interchange) shipping bills, the electronically obtained Bank Realisation Certificate (e-BRC), and the RCMC. However, if your application is submitted through EDI ports, you are exempt from providing hard copies; you only need to submit export promotion copies of non-EDI shipping bills and proof of landing.

Duration of MEIS

The MEIS incentives are applicable from 1 April 2015 until the validity of the FTP 2015-20, which is 31 March 2020.

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