GudStory
No Result
View All Result
  • News
    • Politics
  • Business
    • Crypto
    • Healthcare
    • Finance
    • Automotive
    • Education
    • Industries
    • Insurance
    • Investment
    • Legal
    • Market
  • Entertainment
    • History
    • Sports
    • Gaming
  • Lifestyle
    • Health
    • Food
    • Drink
    • Fashion
    • Beauty
    • Shopping
    • Hair Care
    • Skin Care
    • Jewellery
    • Parenting
    • Culture
    • Travel
  • Home Improvement
    • Design Ideas
    • Events
    • Gardening
    • Furniture
    • Home Repair
    • Housekeeping
    • HVAC
    • Kitchen
    • Painting
    • Pest Control
    • Plumbing
  • Real Estate
    • Buying Home
    • Selling Home
    • Construction
    • Moving
  • News
    • Politics
  • Business
    • Crypto
    • Healthcare
    • Finance
    • Automotive
    • Education
    • Industries
    • Insurance
    • Investment
    • Legal
    • Market
  • Entertainment
    • History
    • Sports
    • Gaming
  • Lifestyle
    • Health
    • Food
    • Drink
    • Fashion
    • Beauty
    • Shopping
    • Hair Care
    • Skin Care
    • Jewellery
    • Parenting
    • Culture
    • Travel
  • Home Improvement
    • Design Ideas
    • Events
    • Gardening
    • Furniture
    • Home Repair
    • Housekeeping
    • HVAC
    • Kitchen
    • Painting
    • Pest Control
    • Plumbing
  • Real Estate
    • Buying Home
    • Selling Home
    • Construction
    • Moving
No Result
View All Result
GudStory
No Result
View All Result
Home News

How Government Schemes Under Foreign Trade Policy Helping Indian Importers & Exporters

Surjeet by Surjeet
July 17, 2020
in News
Reading Time: 4 mins read
0
Foreign Trade Policy

Indian Government approved various schemes to give incentives on goods & service exports under foreign trade policy to offset infrastructural inefficiency involved in the export process of 2% – 7% on the eligible exports in the form of duty credit scrip. The Government also had approved the Import Authorisation to save the custom duties on the following:-

• Raw materials required to manufacture the export products with additional inputs.

• Capital goods required to obtain export products.

Export Promotion Scheme launched by the Government of India with the main objective to boost exports outside India. There are many export promotion schemes such as

• Merchandise Exports from India Scheme

ADVERTISEMENT

• Service Exports India Scheme,

• Duty-Free Import Authorization,

• Export Promotion of Capital Goods

• Advance Authorization

• Status Holder Certificate

• Duty Drawback etc.

Each Scheme has different applications but the main aim is to promote exports.

Table of Contents

Toggle
  • 1. Merchandise Exports from India Scheme
  • 2. Service Export India Scheme
  • 3. Export Promotion Capital Goods
  • 4. Advance Authorization
  • 5. Duty-free import authorization
  • 6. Status Holder Certificate
  • 7. Duty Drawback scheme

1. Merchandise Exports from India Scheme

The MEIS scheme provides the benefits for exporters in the form of duty credit scrips. Certain documents are mandatory for applying to the DGFT for claiming the benefits. The validity of the scrip obtained under MEIS is 24 months. Revalidation of the scrip is not permitted under the MEIS scheme.

The application has to be done on the DGFT site with the help of a digital signature in which IEC details are embedded.

2. Service Export India Scheme

The Service Exports from India Scheme( SEIS)  under the Foreign Trade Policy to increase the services globally of the exporters. The exporters are given the incentives in the form of Duty-Free Scrip within the range of 3% to 7% on their Foreign exchange earnings.

Under SEIS Scheme Application shall be done on DGFT site and hardcopy of the required documents need to submit in concern RA of DGFT which will review the application and issue the license, after selling of license custom registration is mandatory to use the licence at custom in waiver of customs duties.

3. Export Promotion Capital Goods

Exporters concerning this scheme import the goods/ machinery at the zero custom duty rates that are beneficial for the production of final products and are exported to the other countries.

4. Advance Authorization

Advance Authorisation is issued to allow duty-free import of inputs required for obtaining the export products. The Value addition under the AA scheme is 15% minimum, It has the validity of 12 months for the import of inputs and 18 months for the EO fulfillment from the issuance date. It is issued to manufacturer exporters or merchant exporters tied with supporting manufacturer exporters.

5. Duty-free import authorization

The eligibility criteria for this Scheme are issued on post exports only for those products for those Standard Input Output Norms has been fixed. The validity of this authorization shall be valid for the months of 12 from the date it has been issued.

The value addition needs to achieve under DFIA is a minimum of 20%.

6. Status Holder Certificate

Exporters having valid IEC & good export performance may apply for a status holder Certificate to boost the Marketable export efficiency.

7. Duty Drawback scheme

Duty Drawback scheme is administered by Department of Revenue (DIR), under Duty Drawback Scheme goods obtained from duty paid raw materials are exported first and after which refund can be claimed and there are two ways to claim a refund under this scheme:

1) All Industry rates

2) Brand rates.

Thus, the government of India introduced various schemes, that not only is beneficial to the exporters but also prove advantageous to the economic development of India

ShareTweet
Surjeet

Surjeet

A writer can take you back to the old, build new and take you places with this motto and passion I started a journey of Gudstory. I tried to communicate my thoughts and happenings around the world to you. Being business owner by profession and writer by passion.

Related Posts

Elon-Musk

Elon Musk’s America Party: A New Power Player in US Politics?

July 7, 2025
trump

Trump Sparks Outrage with Controversial Term at Iowa Rally: A Deeper Look at Antisemitic Language in Politics

July 4, 2025
Jeffries-Marathon-Speech-Delays-Trump-Mega-Bill-as-July-4-Deadline-Looms

Jeffries’ Marathon Speech Delays Trump’s Mega Bill as July 4 Deadline Looms

July 4, 2025
tesla-shares-slide-as-trump-targets-elon-musk-subsidies-in-public-clash

Tesla Shares Slide as Trump Targets Elon Musk’s Subsidies in Public Clash

July 2, 2025
ADVERTISEMENT
  • Home
  • About
  • Advertise
  • Contact
  • Privacy Policy

© 2018-23 Gud Story

No Result
View All Result
  • News
  • Entertainment
  • Business
  • Lifestyle
  • Home Improvement
  • Real Estate

© 2018-23 Gud Story