The new Foreign Trade Policy (FTP) has come for upcoming five years i.e. from 2015-2020. In this policy, for focus on prime ministers campaign "Make in India", were announced a scheme for manufacturing sector namely "Merchandise Exports from India Scheme (MEIS)" and under this scheme they have merged previous five Export Incentive Schemes like Focus Product Scheme (FPS), Focus Market Scheme (FMS), Market Linked Focus Product Scheme (MLFPS), Vishesh Krishi and Gram Udyog Yojana (VKGUY) and Agri. Infrastructure Incentive Script. And this scheme will be in action after April, 2015. Under this scheme exporters of many sectors will got 2% - 7% duty credit script and in Appendix 3B, rates of reward on various Products (HS Code wise), also have notified products/goods with it's ITC [HS] Code and notified markets. Notified markets has three parts A,B and C. Group A has 30 countries, Group B have 139 countries and Group C have 70 countries and 4914 products/goods is added here in this appendix. This duty Credit Script will be freely transferable and could be use in payments of Customs duty, Domestic Central Excise and Service Tax.
Ineligible categories under MEIS :-
The following exports categories /sectors shall be ineligible for Duty Credit Scrip entitlement under MEIS :-
(i) EOUs / EHTPs / BTPs/ STPs 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 originatin in third country but transshipped through India;
(v) Deemed Exports;
(vi) SEZ/EOU/EHTP/BPT/FTWZ products exported through DTA units;
(vii) Items, which are restricted or prohibited for export under Schedulee-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.
