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    Limit imposed on total rewards under Merchandise Exports from India Scheme

    Published on September 2, 2020

    A limit has been imposed on total rewards under the Merchandise Exports from India Scheme (MEIS). A notification issued by Directorate General of Foreign Trade last evening says that the total reward which may be granted to an Importer Exporter Code, IEC holder under the scheme shall not exceed two crore rupees per IEC of exports made in the period 1st September to 31st December this year.

    Further, it has also been informed that any IEC holder who has not made any exports for a period of one year preceding 1st of September or any new IECs obtained on or after 1st September would not be eligible for submitting any claim under MEIS. 

    In addition, MEIS Scheme is withdrawn with effect from 1st January 2021. The ceiling will be subject to further downward revision to ensure that the total claim under MEIS for the period from 1st September to 31st December does not exceed prescribed allocation by the Government which is 5,000 Crore rupees. 

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