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Norms for claiming export benefits under MEIS eased

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The government relaxed norms for claiming duty benefits under the Merchandise Exports from India scheme ( MEIS) by exempting merchandise exporters from mandatory submission of landing bills. With an eye on boosting exports, which have declined for the 16th straight month in March, the Directorate General of Foreign Trade has notified that proof of landing, which exporters have long argued against, will not be required along the remaining 2,787 tariff lines. The MEIS scheme, introduced in April 2015 under the foreign trade policy, incentivises merchandise exports along a total of 5,012 items currently.
Business Standard New Delhi,6th May 2016

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