Government releases funds for pending export incentives

by | Sep 11, 2021 | Insight

The Central Government via a Press Release dated September 9, 2021 has announced fund allocation for disbursal of various pending export incentives to exporters under various Export Promotion Schemes. Highlights of the Press Release is provided as under:

  1. Fund allocation for export incentives

Sl. No.

Export Incentive

Amount

(in Crores)

1

MEIS

33,010

2

SEIS

10,002

3

RoSCTL

5,286

4

RoDTEP (January 2021 to March 2021)

2,568

5

Other Schemes like Target Plus etc.

4,831

 

Total

56,027

 

  1. SEIS

Service exporters will be able to claim SEIS benefit for FY 2019-20. List of eligible services and rate of benefit with certain revisions will be notified soon.

Export claims for earlier years need to be filed by December 31, 2021 beyond which they will become time-barred.

Government will shortly enable Online IT portal to accept MEIS and other scrip-based applications.

NITYA Comments: Grant of export incentives for earlier periods was long overdue and will bring some relief to exporters. Service exporters need to watch list of eligible services and SEIS rates for FY 2019-20 once notified. There is no clarity yet on grant of SEIS benefit for FY 2020-21 and FY 2021-22.

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