India Sets Deadline to Submit Applications for Scrip-Based Schemes
The last date to submit applications under the Merchandise Exports from India Scheme (MEIS), Service Exports from India Scheme, the Rebate of State and Central Taxes and Levies scheme and Rebate of State Levies scheme and 2% additional ad hoc incentive is Dec. 31, India's Director General of Foreign Trade said. The DGFT set the deadline for scrip-based claims and clarified the time periods for which applications can be made.
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Under MEIS, the deadline is applicable for exports made from July 1, 2018, to March 31, 2019; April 1, 2019, to March 31, 2020; and April 1, 2020, to Dec. 31, 2020. Under SEIS, claims must be submitted for exports rendered in fiscal years 2018 and 2019 and FY19 and FY20. For the 2% additional ad hoc incentive, claims must be submitted for exports shipped from Jan. 1, 2020, to March 31, 2020. For ROSCTL, the deadline is applicable for exports made from March 7, 2019, to Dec. 31, 2020. Lastly, for ROSL, the deadline is applicable for exports made up to March 6, 2019, for which claims have not yet been disbursed under scrip mechanism, the DGFT said.
Also, the DGFT said that the validity of any scrip issued under the Foreign Trade Policy from Sept. 16 has been notified to be 12 months from the date of issue for the scrip.