Export incentive scheme
Note:- The new foreign trade policy 2021-2026 has launch recently replaced by old foreign policy 2015-2020 where government of India has launch RoDTEP (Remission of Duties and Taxes on Export Products) that is applicable with effect from January 1st, 2021,
MEIS(Merchandise Exports from India Scheme)
With the aim in making India’s products more competitive in the global markets, the scheme provides incentive in the form of duty credit scrip to the exporter to compensate for his loss on payment of duties. The incentive is paid as percentage of the realized FOB value (in free foreign exchange) for notified goods going to notified markets.
SEIS(Service Exports from India Scheme )
The purpose for the scheme is to make export of Indian services more competitive in international market. incentives in the form of scrips at a rate ranging from 3% to 5% on services exporter’s net foreign exchange earnings are given to exporters of notified services which can be used for to settle the payment of duties and are also freely transferrable in open market.
TMA (Transport and marketing assistance)
The "Transport and Marketing Assistance" (TMA) for specified agriculture products scheme aims to provide assistance for the international component of freight and1 marketing of agricultural produce which is likely to mitigate disadvantage of higher cost of transportation of export of specified agriculture products due to trans-shipment and to promote brand recognition for Indian agricultural products in the specified overseas markets.
RoSCTL(Rebate of State and Central Levies and Taxes)
Scheme to rebate all embedded State and Central Taxes/levies for meant for exports of made-up articles & garments.