https://www.taxtmi.com/highlights?id=103509 MEIS duty credit scrips received under the Foreign Trade Policy 2015 are treated as revenue receipts taxable as income from assessment year 2016-17. Applying the purpose test, the rewards offset export-related costs and infrastructure inefficiencies and enable more profitable conduct of export business. Their computation by reference to completed exports, recurring nature, transferability and unrestricted usability support their revenue character; they are not linked to capital investment, establishment or expansion, nor earmarked for a capital purpose. Government assistance "by whatever name called" covers MEIS rewards, including grants or cash incentives, without limitation by ejusdem generis. en-us Tue, 08 Sep 2026 08:42:19 +0530 Tue, 08 Sep 2026 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=103509 MEIS duty credit scrips received under the Foreign Trade Policy 2015 are treated as revenue receipts taxable as income from assessment year 2016-17. Applying the purpose test, the rewards offset export-related costs and infrastructure inefficiencies and enable more profitable conduct of export business. Their computation by reference to completed exports, recurring nature, transferability and unrestricted usability support their revenue character; they are not linked to capital investment, establishment or expansion, nor earmarked for a capital purpose. Government assistance "by whatever name called" covers MEIS rewards, including grants or cash incentives, without limitation by ejusdem generis. Highlights Income Tax Tue, 08 Sep 2026 08:42:19 +0530 https://www.taxtmi.com/highlights?id=103509