ANY CLOSURE PROCEDURE REQUIRED FOR MEIS ?

[Asked by Guest]

DEAR EXPERTS,

WE HAVE MEIS. WE HAD IMPORTED MATERIAL THROUGHT MEIS.

KINDLY ADVISE ANY CLOSER PROCEDURE REQUIRED OR NOT.

ZULFIKAR B. VOHRA

[MUKUND THAKKAR]

once you utilised scrip need not any closer procedure is req. keep scrip along with the your import documents like Bill of Entry and other relevent import documents.

[Suryanarayana Sathineni]

Dear Friend,

Since the MEIS Scrip issued on post export basis, there is no such requirement of closure of the scrip. You can utilize the total amount till last rupee within the validity and once utilization is completed and after receiving the scrip from customs through your CHA, you need to keep them in a file for records and future reference.

Best Regards

Suryanarayana

THANK YOU SIR

[Kishan Barai]

Respected Suryanarayana Sir,

What is the validity of MEIS script ?

[Suryanarayana Sathineni]

Dear Sir,

If my remembrance goes correct it is 24 months.

Best Regards

Suryanarayana

[Kishan Barai]

Thanks a lot sir

[MUKUND THAKKAR]

validty of script is 18 months..

AI Summary

MEIS scrip closure: no formal closure required; retain utilised scrip with import documents and observe validity period.
No formal closure process is required once a MEIS scrip is utilised; retain the scrip with import documents like Bills of Entry for records. The scrip, issued on a post export basis, may be used up to the end of its validity, but reported recollections differ on the precise validity period, so verify the applicable term in the governing regulations.