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Governement caps export incentives under MEIS to Rs 2 crore, RoDTEP to come into effect from Jan 1

The Central government on Tuesday capped export incentives under the Merchant Export from India Scheme (MEIS) at Rs 2 crore per exporter on outbound shipments executed during September 1 to December 31, 2020 period. Under MEIS, the government provides duty benefits in form of rewards as payable as a percentage of realised free-on-board value and MEIS duty credit scrip can be transferred or used for payment of a number of duties, including the basic customs duty.

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