Under Foreign Trade Policy government has introduced new export incentive schemes under Merchandise Export from India Schemes to promote the export of goods and services. MEIS Scheme aims to offset infrastructural inefficiencies and associated costs involved in export of goods/products by providing credit in the form of duty credit scrips.
Under Export Incentive Scheme- MEIS scheme export can have benefit of up to 5% of FOB
value of export, there percentage depends on factor of destination county and tariff classification
of good. Latest policy extended this benefit to e commerce sector.
Duty Credit Scrips shall be granted as rewards under MEIS. It will be freely transferable.
Therefore, if exporter is not in position to use the Duty Credit Scrip, he can sell the same in
market.
Kindly Contact Us for further information / Clarification.