TMI BlogReward /Incentive SchemesX X X X Extracts X X X X X X X X Extracts X X X X ..... t Scheme (FPS) and Status Holders Incentive Scrip (SHIS) Schemes have been dealt at paras 2 to 7 of Chapter 23 of the Customs Manual 2014. 2.2 Under the FTP 2015-20, (a) Merchandise Exports from India (MEIS) Scheme rewards export of notified goods listed in Appendix 3B of Handbook of Procedures generally @ 2% or 3% or 5% or 7% or 10% of certain FOB value of exports. It includes reward on ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her 3% or 5% or 7% of net foreign exchange earned. (c) Under these two schemes, based on FOB value of exports/net foreign exchange earnings, DGFT issues duty credit scrips viz. MEIS SEIS scrips. Both, MEIS and SEIS scrips are freely transferable and can be used for payment of Basic Customs Duty (BCD) on import of any item except those listed in Appendix 3A of Foreign Trade Procedures, or fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 015-Customs dated 01.04.2015] (e) Clearance of goods from Customs Bonded warehouses using MEIS and SEIS duty credit scrips for duty payment is allowed as per the same procedure as is prescribed for DEPB scrips. [Refer Para 3.11 of Foreign Trade Procedure 2015-20 and Circular No. 68/2000 dated 18.8.2000 and 72/2003-Cus dated 11.8.2003]. 2.3 Verification related to duty credit scrips: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been simultaneously received online through electronic transmission from DGFT. Customs can also carry out complete verification of scrip only where specific intelligence suggests misuse or requirement of an investigation. [Refer Circulars No. 5/2010-Cus.dated 16-3-2010, No.17/2012-Cus., dated 5-7-2012, No. 14/2015-Cus. dated 20-4-2015, 12/2016-Cus dated 28-3-2016 and Instruction No.609/119/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
