What is MEIS License?
As you might know that our government is always pushing Exports from India. It’s because we are representing India in the world and people across the world are buying our products or services. Our government had launched a scheme called Merchant Export from India scheme. MEIS was introduced in replacement of Focus Market Scheme or Focus Product Scheme. MEIS was introduced to offset the high freight cost and other expenses such as transportation and customs clearance borne by Exporters. Government provides indirect cash benefit of around 2% to 7% depending on the product exported. DGFT has fixed rates for all kinds of products.
Any exporter can claim this benefit with the help of:
Shipping Bills with a check on ‘We intent to claim MEIS benefits’.
Bank Realization Certificates (BRCs)