\n

A.            
\n<\/strong>SIMPLIFICATION
\n& MERGER OF REWARD SCHEMES<\/strong><\/p>\n

 <\/p>\n

Export from
\nIndia Schemes<\/strong>:<\/p>\n

 <\/p>\n

1.            
\n<\/strong>Merchandise
\nExports from India Scheme (MEIS) <\/strong><\/p>\n

 <\/p>\n

(a)         
\nEarlier there were
\n5 different schemes (Focus Product Scheme, Market Linked Focus Product Scheme,
\nFocus Market Scheme, Agri. Infrastructure Incentive Scrip, VKGUY) for rewarding
\nmerchandise exports with different kinds of duty scrips with varying conditions
\n(sector specific or actual user only) attached to their use. Now all these
\nschemes have been merged into a single scheme, namely Merchandise Export from
\nIndia Scheme (MEIS) and there would be no conditionality attached to the scrips
\nissued under the scheme. The main features of MEIS, including details of
\nvarious groups of products supported under MEIS and the country groupings are
\nat Annexure-1. <\/p>\n

 <\/p>\n

(b)         
\nRewards for export
\nof notified goods to notified markets under \u2018Merchandise Exports from India Scheme
\n(MEIS) shall be payable as percentage of realized FOB value (in free foreign
\nexchange). The debits towards basic customs duty in the transferable reward
\nduty credit scrips would also be allowed adjustment as duty drawback. At
\npresent, only the additional duty of customs \/ excise duty \/ service tax is
\nallowed adjustment as CENVAT credit or drawback, as per Department of Revenue
\nrules. <\/p>\n<\/div>\n