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Export incentive schemes enable transferable duty credit scrips for customs duty payment, with electronic transmission limiting routine verification. FTP 2015-20 implements MEIS for notified goods and SEIS for specified services, issuing transferable duty credit scrips redeemable for Basic Customs Duty (subject to exclusions) and usable for bonded warehouse clearance and certain default liabilities; scrips cannot discharge penalties or interest. Electronic transmission of scrips from DGFT generally eliminates routine verification of backing shipping bills, while non electronic or suspicious cases permit documentary checks and limited random verification.
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<h1>Export incentive schemes enable transferable duty credit scrips for customs duty payment, with electronic transmission limiting routine verification.</h1> FTP 2015-20 implements MEIS for notified goods and SEIS for specified services, issuing transferable duty credit scrips redeemable for Basic Customs Duty (subject to exclusions) and usable for bonded warehouse clearance and certain default liabilities; scrips cannot discharge penalties or interest. Electronic transmission of scrips from DGFT generally eliminates routine verification of backing shipping bills, while non electronic or suspicious cases permit documentary checks and limited random verification.
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