Page 2 - Meis

Commerce Min suggests expanding MEIS successor scheme to support exporters

But Revenue Department unwilling to increase tax liability under upcoming RoDTEP scheme or expand Rs 9,000 crore MEIS outlay till December

PLI scheme to be expanded to furniture, leather sectors as MEIS wounds up

The new scheme would replace the existing Merchandise Exports India Scheme (MEIS), introduced in April 2015

Exporters want govt to curtail MEIS benefits

In April 2015, the MEIS replaced five different better targeted but messy schemes such as Focus Product Scheme, Focus Market Scheme etc

Govt favours diverting MEIS funds to PLI schemes in select sectors

The revenue department argued against continuing the MEIS, calling it inefficient and wasteful

Trying for solution on MEIS; in dialogue with requisite authorities: Goyal

Under merchandise export from India scheme, the government provides duty benefits depending on product and country

India has to engage with both foreign tech and indigenous: Piyush Goyal

The electronics manufacturing industry has pushed for more coverage of incentives and higher tariffs on foreign goods

Foreign trade policy, schemes to be extended by 6 months till Sept 30

Some more measures are also expected to be provided to exporters to ease strain caused by the outbreak.

WTO-compliant remission of tax scheme for exporters gets canbinet nod

Under the scheme, an inter-ministerial committee will determine the rates and items on which the reimbursement of taxes and duties would be provided.

Govt approves tax reimbursement scheme for exporters, MEIS to be phased out

These taxes include value added tax (VAT), electricity duties and fuel used for transportation, which are not exempt or refunded under any other existing mechanism.

Cabinet may approve scheme for exporters to reimburse levies on Friday

Finance Minister Nirmala Sitharaman had announced about the scheme for remission of duties and taxes on export products (RoDTEP) in her Budget speech on February 1

Gujarat HC issues notices to Centre, GST Council over surcharge imposition

The cess and the surcharge are imposed at the time of imports, where duties are paid through the Merchandise Exports from India Scheme (MEIS) scrips.

Govt rolls out 1% additional ad-hoc incentive for garments and made-ups

As RoSL and MEIS were simultaneously available along with RoSCTL, many exporters factored in both in their costing. Exporters said the government had at no point issued any notification on this.

Budget doesn't really enthuse

The allocation of Rs 12,824 crore in FY21 for the ministry of commerce and industry shows a reduction of Rs 875 crore from the revised estimates for FY20

Duty incentives for apparel export withdrawn as tax rebate scheme launched

The directorate has also laid out a detailed procedure for availing benefits under the RoSCTL scheme

Govt's decision to withdraw MEIS incentives set to hit textile exporters

The government has removed the benefit of 4 per cent Merchandise Exports from India Scheme on exports of made ups and garments with retrospective effect, that is, from March 7, 2019

Hanging up on mobile phone exports, India likely to miss 'hub' tag

Manufacturers decline export orders because of subsidy reduction from 4 to 2 per cent

Year closes on a gloomy note

Export, import, private investment, domestic demand, direct tax revenue, and indirect tax collection all show a declining trend

WTO backs US in trade dispute, says India's export subsidies illegal

The US has also cornered India at the multilateral platform, stating WTO rules prohibit middle-income nations from providing market distorting export subsidies at all

Why India lost a major trade dispute with US at World Trade Organization

Outbound trade fell by 6.57 per cent in September, to a three-month low with the trade decline plaguing major foreign exchange earners

Govt likely to extend benefits to exporters under MEIS till March 31

The decision to extend MEIS benefits is expected to draw the biggest cheer from the industry