In order to promote ease of doing business for exporters, the commerce ministry’s foreign trade arm, the Directorate General of Foreign Trade (DGFT), under the Merchandise Exports from India Scheme (MEIS), has simplified the process for traders to avail export incentives. This move will enable automatic approval of claims made by exporters to avail incentives under this scheme and the latest procedure is allowed through electronic data interchange ports.
In respect of exports made through electronic data interface (EDI) shipping bills, the directorate will begin the process of system driven approval of the MEIS claim applications from September 17. Under the new system -- E com Module for MEIS, regional authorities will not check the MEIS applications, while it will be automatically approved. Besides, rewards under the scheme are payable as percentage of realised free-on-board value and MEIS duty credit scrip or certificate can be transferred or used for payment of a number of duties, including the basic customs duty.
The commerce ministry’s foreign trade arm has been on regular basis taking actions to ease the implementation process of the foreign trade policy schemes by establishing processes, which are free from manual interface and are quick and efficient.