Export Incentives for a Product

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 March 2011 We are in Business of Exports of few Product.

At present we have big order for Tamarind dried HS code:- 0813 40 10

Please inform us what Percent of DEPB and VKUY incentive we can get for the product.

Thank you,

Kevin Vachhani

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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07 March 2011 AVAILABLE

Querist : Anonymous

Querist : Anonymous (Querist)

07 March 2011 Verma Sab,

Can you tell what % of VKGUY and DEPB can we get?

Kevin

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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08 March 2011 please provide a copy of shipping bill so that i could examine .

regards,

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2011 Sir, This is our 1st Transaction in this product, so we donot have shipping Bill for this Product.

But for Product Details it is mentioned below.

Product Name:- Tamarind with Seed
H.S. Code. :- 08134010

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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24 July 2024 It seems there's some confusion regarding the terms DEPB (Duty Entitlement Pass Book) and VKUY (Vishesh Krishi and Gram Udyog Yojana) incentives. Both of these schemes were part of India's export promotion schemes under the Directorate General of Foreign Trade (DGFT) but have been phased out. Currently, India offers the Merchandise Exports from India Scheme (MEIS) and the Service Exports from India Scheme (SEIS) as major export incentives.

Since DEPB and VKUY have been discontinued, I'll provide information regarding the current schemes applicable for export incentives in India:

### Merchandise Exports from India Scheme (MEIS):
- **Objective**: MEIS is aimed at promoting exports of specified goods to specified markets.
- **Eligibility**: Exporters of eligible goods to eligible markets as specified by DGFT.
- **Entitlement**: Duty credit scrips are issued as a percentage of the FOB value (Free on Board) of exports in free foreign exchange.
- **Product Coverage**: The list of eligible products and their respective rates can be found in the Appendix 3B of the Foreign Trade Policy (FTP) which is updated periodically.

### Service Exports from India Scheme (SEIS):
- **Objective**: SEIS aims to incentivize export of notified services from India.
- **Eligibility**: Service providers of eligible services to specified markets.
- **Entitlement**: Duty credit scrips are issued based on net foreign exchange earnings.
- **Service Coverage**: Eligible services and their rates are listed in the Appendix 3D of the FTP.

### Application Process:
1. **DGFT Portal**: Apply online through the DGFT website (https://dgft.gov.in/).
2. **Application Forms**: Fill out the required forms and submit along with necessary documents.
3. **Documentation**: Include invoices, shipping bills, and other required documents.
4. **Verification**: DGFT verifies the application and supporting documents.
5. **Issuance of Scrips**: Upon approval, duty credit scrips are issued electronically.

### Specific to Tamarind (HS Code 08134010):
- To determine the exact rate of incentive under MEIS or SEIS for Tamarind, you would need to refer to the current FTP and Appendix 3B for goods or Appendix 3D for services, respectively.
- Since this is your first transaction in this product, you may need to establish a track record of export and provide shipping bills for subsequent claims.

### Conclusion:
Since DEPB and VKUY are no longer applicable, it's essential to apply under the current MEIS or SEIS schemes for your export of Tamarind. Ensure you comply with all DGFT guidelines and submit accurate documentation to maximize your export incentives. If in doubt, consulting with a customs broker or export consultant experienced in DGFT procedures would be beneficial.

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