Discuss briefly the objectives of Merchandise Exports from India Scheme (MEIS) in relation to export of notified goods/products through courier or foreign port offices using e-commerce.
CS Executive · Economic and Commercial Laws · PYQS · December 2019
Discuss briefly the objectives of Merchandise Exports from India Scheme (MEIS) in relation to export of notified goods/products through courier or foreign port offices using e-commerce.
Answer & Explanation:
Objectives of Merchandise Exports from India Scheme (MEIS): The objective of Merchandise Exports from India Scheme (MEIS) is to offset infrastructural inefficiencies and associated costs involved in the export of goods/products, which are produced/manufactured in India, especially those having high export intensity, employment potential and thereby enhancing India's export competitiveness. MEIS in relation to export of notified goods/products through courier or foreign post offices using e-commerce: The scheme provides for rewards for export of notified goods/products through courier or foreign post offices using e-commerce, subject to the following conditions: Eligibility for Rewards: Exports of goods through courier or foreign post office using e-commerce, as notified in Appendix 3C of Appendices and Aayat Niryat Forms of FTP 2015-2020, of FOB value of specified value per consignment shall be entitled for rewards under MEIS. Reward Limitation: If the value of exports using e-commerce platform is more than the specified value per consignment, then the MEIS reward would be limited to the FOB of the specified value only. Manual Export Mode: Such goods can be exported in manual mode through Foreign Post Offices at New Delhi, Mumbai and Chennai. Courier Regulations: Export of such goods under Courier Regulations shall be allowed manually on a pilot basis through Airports at Delhi, Mumbai and Chennai as per appropriate amendments in regulations to be made by the Department of Revenue. The Department of Revenue shall fast track the implementation of Electronic Data Interchange (EDI) mode at courier terminals.
Topics: Foreign Trade Policy, Export Schemes
Related Questions in this Topic
- In the following cases, state with reasons if the trust is created under The Trusts Act, 1882: A bequeaths certain pro...
- A made a gift of a house in favour of B and handed over the deed to B. But before presenting the same for registration A...
- An industry during manufacturing operation had caused major leakage of harmful gas and was ordered to be closed down by ...
- A sub-registrar refuses to register a document on the ground of undervaluation for stamp duty. The person aggrieved with...
- The Micro, Small and Enterprises Development Act, 2006 empowers the Central Government to constitute an advisory committ...