Merchandise Exports from India Scheme (MEIS)

MEIS was launched with an objective to enhance the export of notified goods manufactured in a country.
The scheme has been introduced through the Foreign Trade Policy (FTP) and came into effect on 1 April 2015.
The Ministry of Commerce and Industry is responsible for the implementation of the MEIS.
The MEIS will be applicable till the year 2020 and will replace the below 5 incentive schemes that were earlier available under the Foreign Trade Policy 2014-2019:
- Market Linked Focus Product Scheme (MLFPS)
- Focus Product Scheme (FPS)
- Agriculture Infrastructure Incentive Scrip (AIIS)
- Focus Market Scheme (FMS)
- Vishesh Krishi Gramin Upaj Yojana (VKGUY)
Under this scheme, over Rs.22, 000 crore per year has been allocated by the Government of India for exports.
Under MEIS, a percentage of realized FOB (Free on Board) value (2, 3, or 5%) of the exports are payable as incentives.
The rewards are paid in the form of the MEIS duty credit scrip that can be used to pay for a number of taxes/duties including
- Excise duty
- Customs duty
- Service tax.
Imported inputs and scrips can be transferred fully offering flexibility to exporters.
The incentives that are available under MEIS are also available to units located in Special Economic Zones (SEZs).