NITYA Tax Associates is proud to present their recent write-up in the ‘Article’ series on trending indirect tax issues. A gist of the next article in the series is as under:

Article 49 – “Pandemic Strikes Exporters: Capping MEIS Benefit – Can Courts Come to Rescue?”

The news of GDP falling by 23.9% and Finance Minister justifying contraction of economy by using the phrase ‘Act of God’ has stormed the financial world. To close the gap of major resource crunch, the agony has been shifted to exporters, by victimizing Merchandise Exports from India Scheme (‘MEIS’). To everyone’s surprise, the Government on September 1, 2020 capped MEIS benefit to ₹ 2 crore per Importer Exporter Code (‘IEC’) on exports made during September to December 2020. The benefit may further be reduced on the basis of the overall allocation of ₹ 5,000 crore for this MEIS scheme.

Through this article, our Partner, Mr. Deepak Suneja and Associate, Mr. Ayush Agarwal have examined whether the cap on MEIS benefit is valid, and if exporters can approach the Courts in case MEIS benefit in this period is likely to exceed ₹ 2 crore.

Please click below to read our article titled “Pandemic Strikes Exporters: Capping MEIS Benefit – Can Courts Come to Rescue?“ on the issue.

NITYA | Article 49 | Pandemic Strikes Exporters: Capping MEIS Benefit – Can Courts Come to Rescue?