MEIS – Enhanced Rates to continue beyond June 30, 2018
May 16, 2018
Members of the Council,
Sub : Merchandise Exports from India Scheme (MEIS) – Enhanced Rates to continue beyond June 30, 2018
You are kindly aware that in the Midterm review of Foreign Trade Policy announced on Dec.5, 2017, across-the-board increase of 2% in existing scrip value under Merchandise Exports from India Scheme (MEIS) was made for MSME/labour intensive industries including leather sector for exports made from 1.11.2017 to 30.6.2018. Accordingly Public Notice No.44 dated 5.12.17 was issued, as per which scrip value for most categories of finished leather was increased from 2% to 3% and for leather products and footwear from 3% to 5% for exports made from 1.11.2017 to 30.6.2018
The DGFT subsequently issued a Public Notice No.2/2015-20 dated 1st May 2018 (copy enclosed) fixing the MEIS rate at 7% for certain items including Kolhapuri Chappals and similar footwear (ITC HS code No.64032040) for export made from 1.11.2017 to 30.06.2018.
The DGFT has now issued a Public Notice No. 07/2015-20 dated 11th May 2018 (copy enclosed) stating that the MEIS rates enhanced vide aforesaid Public Notices will continue beyond June 30, 2018. Thus, the enhanced MEIS rates for notified finished leather, leather products and footwear will be applicable for shipments to be made after June 30, 2018 as well.
Members may kindly note the above.
Thanks and regards
COUNCIL FOR LEATHER EXPORTS