06 February 2020
X Ltd got MEIS scrips from an SEZ port (non-EDI port, say INALF1). Y Ltd buys the said scrips from X Ltd to use it against an import. Y Ltd got the TRA (telegraphic release advice) in its name and the same is registered in a EDI port (say INCOK1). However, the Y Ltd could not utilise the said scrips and wants to now sell it to ABC LTD.
What is process by which Y LTD can sell the scrip to ABC LTD? How can Y LTD get a TRA issued in favour of ABC LTD from a EDI port (INCOK1)?
19 February 2020
In this case Y Ltd. should approch the Customs authorities from where TRA was issued with reuest to recredit the TRA in the MEIS because the TRA did not use.After recrediting the TRA the MEIS will have full value thereafter Y Ltd can sell the MEIS to ABC Ltd and get again fresh TRA for clerance of Import item imported by ABC Ltd.
CAclubindia
