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FinMin approves MEIS allocation of Rs 39,000 cr for exports during FY20

The ministry has also directed the Directorate General of Foreign Trade (DGFT) to limit issuance of MEIS scrips to Rs 16,000 crore during the current financial year

Topics
Finance Ministry | MEIS | Exports

IANS  |  New Delhi 

PORTS, exports, imports, trade, shipping, ships, economy

The has approved the allocation of Rs 39,097 crore under the Merchandise from India Scheme (MEIS) for the made during FY 2019-20.

In an office memorandum, the Central Board of Indirect Taxes and Customs (CBIC), which comes under the Ministry's Department of Revenue, said that the allocation of Rs 15,555 crore for between April-December 2020 has also been approved.

"It may be ensured that the afore-stated allocations amount is utilised for issuance of duty credit scrips only for exports made during the respective period i.e. Rs 39,097 crore for FY 2019-20, Rs 10,555 crore for the period of April 1, 2020 to August 31 and Rs 5,000 crore for the September 1 to December 31, 2020," it said.

The ministry has also directed the Directorate General of Foreign Trade (DGFT) to limit issuance of scrips to Rs 16,000 crore during the current financial year.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, November 12 2020. 22:38 IST
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