On July 23, the Directorate General of Foreign Trade (DGFT), without any notice, blocked the facility of electronically filing the applications for duty credit scrips under the Merchandise Exports from India Scheme (MEIS) for exports made from April 1 this year. The applicants got a message: “The online module would be accepting MEIS applications for shipping bills with Let Export Date from 01.04.2020 after adequate funds are available”. The exporters were taken by surprise and now face uncertainty regarding continuation of the scheme.
In April 2015, the MEIS replaced five different better targeted but messy schemes such as Focus Product Scheme,
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
