MEIS Scheme

A scheme designed to provide rewards to
exporters to offset infrastructural inefficiencies and associated costs. The
Duty Credit Scrips and goods imported/ domestically procured against them shall
be freely transferable. The Duty Credit Scrips can be used for:

(i) Payment of Basic Customs Duty and Additional Customs
Duty specified under sections 3(1), 3(3) and 3(5) of the Customs Tariff Act, 1975 for import of inputs or goods, including capital goods, as per DoR
Notification, except items listed in Appendix 3A.

(ii) Payment of Central excise duties on domestic
procurement of inputs or goods,

(iii) Payment of Basic Customs Duty and Additional Customs
Duty specified under Sections 3(1), 3(3) and 3(5) of the Customs Tariff Act,1975 and fee as per paragraph 3.18 of this Policy.

(iv) To apply for MEIS scheme, an IEC is required
Objective of the Merchandise Exports from
India Scheme (MEIS) is to promote the manufacture and export of notified goods/
products.