Prior to the New FTP 2015-20 exporters were claimed the benefit of Customs Duty Drawback (All India Rate or fixation of special rates) and also the Export Incentive benefits form DGFT like SHIS, FPS etc. After the merger of the export Incentive scrip i.e. MEIS, is it permissible to claim the Customs Duty Drawback as well MEIS on the exports made.
Any expert come across this issue, please clarify the same which will help to the readers.
Debate on Eligibility to Claim Both Customs Duty Drawback & MEIS Benefits Under FTP 2015-20; Procedural Clarifications Discussed The discussion revolves around the eligibility to claim both Customs Duty Drawback and the Merchandise Exports from India Scheme (MEIS) benefits under the Foreign Trade Policy (FTP) 2015-20. Opinions differ, with some participants asserting that both benefits can be claimed as they serve different purposes, while others argue only one can be claimed per export. Clarifications include the need for specific declarations on shipping bills and the role of electronic data interchange (EDI) in transmitting shipping bills to the Directorate General of Foreign Trade (DGFT). Issues related to payment currency and procedural requirements for claiming MEIS are also discussed. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
