New Delhi, Sep 9 () The commerce ministry has clarified that export incentive scheme MEIS has not been discontinued from August 1 this year and an inter-ministerial consideration is going on for continuation of 2 per cent increase for labour intensive sectors.

Under Merchandise Exports from India Scheme (MEIS), the government provides duty benefits depending on product and country.

Rewards under the scheme are payable as percentage of realised free-on-board value and MEIS duty credit scrip can be transferred or used for payment of a number of duties including the basic customs duty.

"There has been confusion about MEIS/RoSCTL (Rebate of State and Central Taxes and Levies). It is clarified that MEIS has not been discontinued w.e.f. 1.8.2019.

"The issues under inter-ministerial consideration are - continuation of 2 per cent increase sanctioned w.e.f.1.11.2017 in labour intensive/MSME sectors," the Directorate General of Foreign Trade (DGFT) said in a tweet.

DGFT under the ministry deals with export and import related issues.

"Continuation of MEIS for RMG and made-ups, continuation of RoSL with existing MEIS rates or RoSCTL only for RMG & made-ups," it said.

It added that the government decision would be notified on these issues at the earliest.

"MEIS system has been blocked for LEO (Let Export Order ) after 1.8.2019 till then. We are sorry," it added.

Published On : 09-09-2019

Source : Times of India