Ceiling/ cap on MEIS benefits available to exporters on exports made from 01.09.2020 to 31.12.2020 - 30/2015-2020

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<h1>Foreign Trade Policy Amended: Rs. 2 Crore Cap on MEIS Benefits for 2020 Exports; New IECs Ineligible.</h1> The Directorate General of Foreign Trade has amended the Foreign Trade Policy 2015-20, imposing a cap on the Merchandise Exports from India Scheme (MEIS) benefits. Exporters can claim a maximum reward of Rs. 2 Crore per Importer Exporter Code (IEC) for exports between 01.09.2020 and 31.12.2020. IEC holders without exports from 01.09.2019 to 31.08.2020 or new IECs post-01.09.2020 are ineligible for MEIS claims. The total MEIS claims must not exceed Rs. 5,000 Crore for this period. Additionally, MEIS benefits are unavailable for exports made from 01.01.2021 onwards.

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