OTHERS Extension of deadline Date for filling applications for scrip-based claims - FTP Schemes

Extension of deadline Date for filling applications for scrip-based claims - FTP Schemes

Extension of deadline Date for filling applications for scrip-based claims - FTP Schemes

Extension of deadline Date for filling applications for scrip-based claims - FTP Schemes

Directorate General of Foreign Trade has extended the due date for filling applications for the below scrip-based claims from 31st Dec 2021 to 31st Jan 2022 :

  1. For Service Exports from India Scheme (SEIS): To encourage and maximize export of notified Services from India, located in India shall be rewarded incentive under Service Exports from India Scheme. The rate of reward is calculated on the Net Foreign exchange earnings. Currently incentive is available for services rendered in FY 2018-19 & FY 2019-20 & the deadline date for application submission is 31st January 2022.
  2. For Merchandise Exports from India Scheme (MEIS): To promote the manufacture and export of notified products/ goods, the Govt incentivise the merchandise exporters on realised Free on Board value of exports in the form of Duty Credit Scrip. The deadline date to apply for exports made in the period 01 July 2018 to 31 dec 2020 is 31st January 2022.
  3. For Rebate of State Levies For exports made up to 06 March 2019, Rebate of State Levies can be claimed on garment exports to exports of made-up articles covered under Chapter 63 & the deadline date to apply for Rebate of State Levies is 31st January 2022.
  4. For ROSCTL:  Rebate of State & Central Taxes and Levies (ROSCTL) is a scheme to grant rebate of all embedded State and Central Taxes/levies meant for exports of made-up articles & garments. For exports made from 07 March 2019 to 31 Dec 2020, the deadline date to apply for Rebate of State & Central Taxes and Levies is 31st January 2022.
  5. For 2% ad hoc incentive: An additional 2 percentage incentive under MEIS was eligible for HSN Code: 85171211 – Mobile Phones, other than push button type and HSN Code: 85171219 – Mobile Phones, push button type for exports made in the period 01.Jan 2020 to 31 March 2020.

Below shall be late cut provision which shall applicable for above-mentioned schemes.

S. No.

Schemes

Late Cut

1

MEIS for FY 2018-19

10 %

2

ROSCTL

NIL

3

ROSL

NIL

4

SEIS for Services rendered in FY 2018-19

5 %

5

SEIS for Services rendered in FY 2019-20

NIL

6

MEIS for FY 2019-20 & FY 2020-21 (Up to 31.12.2020)

NIL

 

Custom updates

  • Central Board of Indirect Taxes and Customs seeks to amend various notifications giving exemption to electronic and Defence equipment to align with HSN 2022 w.e.f. 1.1.2022
  • Central Board of Indirect Taxes and Customs has extended the exemption under Customs till 30th June 2022
  • Central Board of Indirect Taxes and Customs seeks to impose Anti-Dumping Duty on "Décor Paper" originating in or exported from China PR for a period of 5 years.
  • Central Board of Indirect Taxes and Customs seeks to amend the Schedule for Drawback on exports of goods

Disclaimer: The content of this post isn't considered to be professional or legal advice, We aren't responsible for any damages arising from your access to the location content & must not be relied on or used as a substitute for legal advice from a lawyer professional in your jurisdiction. CARajput is among India's big digital compliance services platform which committed to helping people have started & developed their businesses. We had started with the goal of creating it easier for start-ups to start out their business. Our main aim is to assist the businessman with applicable laws & regulations compliance and providing support at each & every level to make sure the business stays compliant and growing continuously. For any query, help or feedback you may in touch on singh@carajput.com or Call or what’s-up on 9-555-555-480

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