is a skilled Professional company providing consulting for Exporters for getting them export incentives under FTP from DGFT office such as SEIS, MEIS, EPCG, Advance license, ROSCTL, drawback, IGST refund on exports from customs. EXPORT PROMOTION MEIS SEIS
2 MERCHANDISE EXPORTS FROM INDIA SCHEME
OBJECTIVE
Objective of Merchandise Exports from India Scheme (MEIS) is to offset infrastructural inef
ficiencies 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 least being 2% of F.O.B., shall be rewarded under MEIS. 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. Wherever the reward under MEIS is available to all countries, proof of landing shall not be required to be submitted for claiming the reward. UTILIZATION OF THE SCRIPS
Duty Credit Scrips shall be granted as rewards under MEIS. The Duty Credit Scrips and goods imported / domestically procured against them shall be freely transferable. THE DUTY CREDIT SCRIPS CAN BE USED FOR:
(i) Payment of Customs Duties for import of inputs or goods, including capital goods, as per DOR notification, except items listed in Appendix 3A. (ii) Payment of excise duties on domestic procurement of inputs or goods, including capital goods as per DoR notification. (iii) Payment of service tax on procurement of services as per DoR notification. (iv) Payment of Customs Duty and fee as per paragraph 3.18 of this Policy. MEIS INELIGIBLE CATEGORIES
The following exports categories /sectors shall be ineligible for Duty Credit Scrip entitlement under MEIS,
(i) EOUs / EHTPs / BTPs/ STP's who are availing direct tax benefits / exemption. (ii) Supplies made from DTA units to SEZ units
(iii) Export of imported goods covered under paragraph 2.46 of FTP;
(iv) Exports through trans-shipment, meaning thereby exports that are originating in third country but transshipped through India;
(v) Deemed Exports;
(vi) EOU/EHTP/BPT/FTWZ products exported through DTA units;
(vii) Items, which are restricted for export under Schedule-2 of Export Policy in ITC (HS), unless specifically notified in Appendix 3B. (ix) Red sanders and beach sand. (x) Export products which are subject to Minimum export price or export duty. (xi) Diamond Gold, Silver, Platinum, other precious metal in any form including plain and studded jewellery and other precious and semi-precious stones. (xii) Ores and concentrates of all types and in all formations. (xiii) Cereals of all types. (xiv) Sugar of all types and all forms, unless specifically notified in Appendix 3B. (xv) Crude / petroleum oil and crude / primary and base products of all types and all formulations. (xvi) Export of milk and milk products, unless specifically notified in Appendix 3B. (xvii) Export of Meat and Meat Products, unless specifically notified in Appendix 3B. (xviii) Products wherein precious metal/diamond are used or Articles which are studded with precious stones. (xix) Exports made by units in FTWZ. (xx) Items, which are prohibited for export under Schedule-2 of Export Policy in ITC (HS). INTENT DECLARATION REQUIREMENT
Declaration of Intent on all shipping bills is compulsory for claiming the rewards under MEIS. The following declaration is compulsory:
"We intend to claim rewards under Merchandise Exports From India Scheme (MEIS)". W.e.f. 01/06/2015 declaration in all shipping bills whether under any scheme or Chapter 4 (including draw back), Chapter 5 or Chapter 6 will be compulsory even if free shipping bills. The declaration of intent is compulsory from 01/04/2015 for “free” shipping bills.
• SERVICE EXPORTS FROM INDIA SCHEME
OBJECTIVE
Objective of Service Exports from India Scheme (SEIS) is to encourage export of notified Services from India
Service Providers of notified services, located in India, shall be rewarded under SEIS, subject to conditions as may be notified. Only Services rendered in the manner as per Para 9.51(i) and Para 9.51(ii) of this policy shall be eligible. The notified services and rates of rewards are listed in Appendix 3D. Such service provider should have minimum net free foreign exchange earnings of US$15,000 in preceding financial year to be eligible for Duty Credit Scrip. For Individual Service Providers and sole proprietorship, such minimum net free foreign exchange earnings criteria would be US$10,000 in preceding financial year. Payment in Indian Rupees for service charges earned on specified services, shall be treated as receipt in deemed foreign exchange as per guidelines of Reserve Bank of India. The list of such services is indicated in Appendix 3E. Net Foreign exchange earnings for the scheme are defined as under
Net Foreign Exchange = Gross Earnings of Foreign Exchange minus Total expenses / payment / remittances of Foreign Exchange by the IEC holder, relating to service sector in the Financial year. If the IEC holder is a manufacturer of goods as well as service provider, thenthe foreign exchange earnings and Total expenses / payment /remittances shall be taken into account for service sector only. In order to claim reward under the scheme, Service provider shall have to have an active IEC at the time of rendering such services for which rewards are claimed. INELIGIBLE CATEGORIES UNDER SEIS
(1) Foreign exchange remittances other than those earned for rendering of notified services would not be counted for entitlement. Thus, other sources of foreign exchange earnings such as equity or debt participation, donations, receipts of repayment of loans etc. and any other inflow of foreign exchange, unrelated to rendering of service, would be ineligible. (2) Following shall not be taken into account for calculation of entitlement under the scheme. a) Foreign Exchange remittances:
I. Related to Financial Services Sector
(i) Raising of all types of foreign currency Loans;
(ii) Export proceeds realization of clients;
(iii) Issuance of Foreign Equity through ADRs / GDRs or other similar instruments;
(iv) Issuance of foreign currency Bonds;
(v) Sale of securities and other financial instruments;
(vi) Other receivables not connected with services rendered by financial institutions; and
II. Earned through contract/regular employment abroad (e.g. labour remittances);
(b) Payments for services received from EEFC Account;
(c) Foreign exchange turnover by Healthcare Institutions like equity participation, donations etc. (d) Foreign exchange turnover by Educational Institutions like equity participation, donations etc. (e) Export turnover relating to services of units operating under EOU / EHTP / STPI / BTP Schemes or supplies of services made to such units
(f) Clubbing of turnover of services rendered by SEZ / EOU /EHTP / STPI / BTP units with turnover of DTA Service Providers;
(g) Exports of Goods. (h) Foreign Exchange earnings for services provided by Airlines, Shipping lines service providers plying from any foreign country X to any foreign country Y routes not touching India at all. (i) Service providers in Telecom Sector. Service Providers of eligible services shall be entitled to Duty Credit Scrip at notified rates (as given in Appendix 3D) on net foreign exchange earned. WE ALSO DEALS IN SCOMET EXPORT LICENSE, IMPORT OF RESTRICTED GOODS LICENSE, MODIFICATION OF IEC, DUTY DRAWBACK, IGST REFUND FROM CUSTOMS ETC.
