Duty Credit Scrips: transferable export rewards usable to offset specified customs and excise duties for permitted imports and procurements. Chapter 3 creates MEIS and SEIS which grant freely transferable Duty Credit Scrips as rewards to exporters to offset infrastructural inefficiencies. Scrips may be used to pay specified Basic and Additional Customs duties and central excise duties for permitted imports or domestic procurements, subject to exclusions and government-prescribed caps or restrictions. MEIS rewards are calculated on realised FOB value for notified goods to designated markets and excludes specified export categories. SEIS rewards notified service providers based on net foreign exchange earnings, with eligibility criteria, minimum earnings thresholds, and specified ineligible inflows. Common provisions address transitional application of prior rules, usage limits, verification, recovery of overclaims, and Status Holder recognition and privileges.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Duty Credit Scrips: transferable export rewards usable to offset specified customs and excise duties for permitted imports and procurements.
Chapter 3 creates MEIS and SEIS which grant freely transferable Duty Credit Scrips as rewards to exporters to offset infrastructural inefficiencies. Scrips may be used to pay specified Basic and Additional Customs duties and central excise duties for permitted imports or domestic procurements, subject to exclusions and government-prescribed caps or restrictions. MEIS rewards are calculated on realised FOB value for notified goods to designated markets and excludes specified export categories. SEIS rewards notified service providers based on net foreign exchange earnings, with eligibility criteria, minimum earnings thresholds, and specified ineligible inflows. Common provisions address transitional application of prior rules, usage limits, verification, recovery of overclaims, and Status Holder recognition and privileges.
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