The Ministry of Commerce & Industry vide Public Notice No. 08/2015-20 dated June 01, 2020, has made certain amendments in paragraph 1 .03 of the Foreign Trade Policy (2015-2020) by increasing the duration of Validity of MEIS/SEIS scrips and relaxation in the last date for filing an application under MEIS/SEIS. Therefore the Director-General of Foreign Trade makes the following amendments in the HBP 2015-20:
- The following sentence is inserted at the end of Para 3.13 of HBP:
“However, Duty Credit Scrips issued between 01.03.2018 and 30.06.2018 shall be valid till 30.09.2020.”
- The following is inserted at the end of Para 9.02 of HBP:
(i) In MEIS applications, which attracted a late cut as on 01.03.2020, the period between 01.03.2020 and 30.06.2020 shall not be counted and the last date for submission of various categories of applications attracting that late cut and the applicable cuts will be accordingly suitable redetermined.
(ii) For SEIS applications:-
- For the services rendered in FY 2016-17, the last date of application with 10% late cut would be 30.06.2020 and after that date, it would become time-barred.
- For the services rendered in the FY 2017-18, 5% late cut as was applicable on 3 1.03.2020, shall continue to be applicable for applications submitted till 30.06.2020, and thereafter 10% late cut would be applicable for applications submitted till 3 1.03.2021.
Therefore, the effect of this Public Notice: Relaxation has been provided from applicable late cuts for SEIS/MEIS applications and the validity of scrips issued under Chapter 3 of FTP which is expiring between 01.03.2020 to 30.06.2020 has been extended upto 30.09.2020.
The Notification can be accessed at: https://dgft.gov.in/sites/default/files/PN%2008%20English.pdf