LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Export benefit query

Bhakti (Project Controller) (25 Points)

22 December 2015

Hello,

With launch of MEIS & SEIS merging existing 5 schemes (FPS,FMS,MLFPS,AIIS,VKGUY), can we claim Duty Drawback (AIR duty drawback or Brand rate of drawback) & MEIS benefit both at the same time for export?

Reply
Follow
Share

5 Replies

Shrikant Rathi (Practicing Chartered Accountant) (31 Points)
Replied 22 December 2015

Yes. Both are different incentives given for different purposes and are not mutually exclusive.

Ajit Hegde (CA - Final) (1367 Points)
Replied 23 December 2015

Yes you can. Authority granting such incentives are different and for different purposes

Madhukar N Hiregange (Chartered Accountant) (38934 Points)
Replied 23 December 2015

Duty drawback scheme is a scheme which is supposed to neutralise the tax impact sufferred by the product through all its stages. As tax cannot be exported, this scheme is envisaged.

MEIS/ SEIS are pure incentives given by Govt to encourage and make exports competitive.

They are mutually exclusive.

As on date one can also claim the incentives of Focus Market Scheme or Focus product scheme and Inceremental export incentive schemes if eligible for benefits earned upto 31.3.2015. There are some time limits + some amount deducted for late filing.