List of Notified Goods under Merchandise Exports from India Scheme
by Paras Mehra 6.72K
Introduction
The government of India has notified the goods with reward rate which are eligible to claim the benefit under Merchandise Exports from India Scheme (MEIS). The notification can be downloaded from the link below.
What is the importance of Notified goods?
The government of India provides various benefits for exporting the goods in India. One of the benefits is the MEIS i.e. Merchandise Exports from India Scheme.
However, this scheme is not applicable for every product and hence, government time to time notify the goods which are eligible for the benefit under this scheme.
Further, the value of reward is based on two parameters:
- Notified Goods: You can verify your product by downloading the notification from the link below:
- Country of Export: The benefit under the scheme can fluctuate form country to country. The rate of reward is mentioned in the notification below.
Countries have been categorised into 3 groups. Group A, Group B, Group C which can be seen in the notification below. Hence, it is important to know your value fall under which group. To know more about the countries and group, you can click here.
Rate of Reward
The rate of reward is somewhere between 2 to 5% of the FOB value.
Form of Reward
The reward is not paid in cash but in freely transferable duty credit scrips. These scrips can be used to pay the customs duty, excise duty or service tax. Further, if you are not able to redeem this scrip, then you can sell these scrips for cash.
These strips are to be registered with the port from where you exported the goods. Once registered, it can be used at any port in India.
Query
Once, you apply it practically you may incur practical problem or queries. You can drop for your queries in our contact form for resolutions.
Download the Notification