Levy of GST on Duty Credit ScripsMay 6, 2020
Lack of clarity on available funds lead to sudden stoppage of MEIS for exports after 01.04.2020August 7, 2020
Extension of Application Filing’s Last Date and Validity of Scrips
The Directorate General of Foreign Trade (DGFT) has provided relief for exporters for claiming export based incentives in the midst of ongoing COVID-19 issue.
DGFT vide Public Notice 08 has notified the below relief to the exporters:
- Validity of scrips: Duty Credit Scrips issued between 01.03.2018 to 30.06.2018 is extended till 30.09.2020.
- MEIS Applications:
The period between 01.03.2020 and 30.06.2020 shall not be counted for the Shipping Bills which attracted a late cut as on 01.03.2020. The last date for submission of various categories of applications attracting that late cut has been extended.
- SEIS Applications::
- For services rendered in FY 2016-17: the last date of application with 10% rate cut would be 30.06.2020 and after that date, it would become time-barred.
- For services rendered in FY 2017-18: a 5% rate cut was applicable on 31.03.2020, shall continue to be applicable for applications submitted till 30.06.2020, and thereafter 10% rate cut would be applicable for applications submitted till 31.03.2021.