Dear Team ,
We are EOU unit and now we got MEIS License ,could you please guide me the uses of these license? Can we use these license towards payment of IGST on import so that our funds do not block.
We are also selling scrap. We are generating domestic invoice for the same. We mention custom duty and cess payable on invoice which has to be paid monthly. Whether we can debit the custom duty and cess payable generated on scrap sales against these license. Please confirm.
MEIS License Use: Applicable for Basic Customs Duty, Not for IGST; Awaiting Changes in New Foreign Trade Policy. An EOU unit inquired about the uses of their newly acquired MEIS License, specifically if it could be used to pay IGST on imports or offset customs duty and cess from scrap sales. Responses clarified that the MEIS License can be used for customs duty, specifically Basic Customs Duty (BCD), but not for IGST payments. One participant mentioned awaiting changes in the new Foreign Trade Policy (FTP) that might affect the use of the MEIS License. (AI Summary)
TaxTMI 
TaxTMI 
