As the Government of India has continued the FTP 2015-20 for another year until 31 March 2021, the Merchandise Export from India Scheme (‘MEIS’) has also survived the wrath of the WTO Ruling of November 2019 which had ruled for discontinuance of the MEIS as it distorted trade by providing direct subsidies.
As the MEIS is active as on date, the DGFT has issued Public Notice No. 12/2015-20 dated 10 July 2020 for addition of certain products and revision in the rate of certain products. Notably, the MEIS has been discontinued for certain products such as vegetables, chemical acids, etc. as prescribed in the Notification.
Disclaimer:
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
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