FMS is an export promotion scheme of the government. The scheme compensates or offset high freight cost and other disadvantages to select international markets with a view to enhance the country’s export competitiveness in these countries. The scheme was launched in 1st April 2006.

MEIS Scheme for export of goods through courier or foreign post offices using e-commerce. The Goods exported by courier or foreign post office through e-commerce mode are eligible for MEIS Incentives. However, FOB value of goods up to Rupees 5,00,000 per consignment are only permitted for benefits under the MEIS scheme …

Application for claiming incentives under the MEIS Scheme shall be filed online in the specified format i.e. ANF-3A using Digital Signature. The application for export of goods shall be filed with the concerned Regional Authority of DGFT on DGFT Website. Separate application shall be filed for each port of export.

An application can be filed online with the DGFT. Merchandise Exports from India Scheme (MEIS): Under this scheme, exporters of notified goods to notified markets receive transferable duty credit scrips on the realised Free On Board (FOB) value of the export in free foreign exchange at rates of 2% to 7%.

The main objective of this scheme is to incentivize export of certain products, which have high employment intensity and other advantages. FPS aims to promote these products in the international Market. Duty credit scrip is a license to import commodities in a duty free manner for the scrip value (2-5% of exports).

Reply- MEIS license is covered under (Duty credit scrips) HSN4907 and exempted from 13.10. Since it is exempt, there will be no GST on purchase of license and no need to reverse ITC.

The Rebate of State and Central Taxes and Levies (RoSCTL) Scheme is an export Incentive scheme introduced from 07th March 2019 to 31.03. 2020 for those who export Apparels and made-ups from India. The RoSCTL Scheme gives duty credit transferable and sellable scrips on the FOB value of export.

Top 10

• Mineral fuels including oil: US$27.6 billion (10% of total exports)
• Gems, precious metals: $24.5 billion (8.9%)
• Pharmaceuticals: $18.4 billion (6.7%)
• Machinery including computers: $18 billion (6.5%)
• Organic chemicals: $17.4 billion (6.3%)
• Electrical machinery, equipment: $13.5 billion (4.9%)

The SEIS Scheme or Service Export from India Scheme is an incentive given by the Ministry of Commerce through the Directorate General of Foreign Trade (DGFT) to Service Exporters based in India. This reward scheme is to promote the export of services from India.

Required minimum education qualification of 10th class for the applicant. Applicant must be able to maintain books and accounts regarding the Ration shop. The applicant must not be convicted under Essential Commodities Act, 1995. The Outlet must be run by the Applicant themselves.

What is FMS scheme and how does Focus Market Scheme work? Focus Market Scheme is introduced on 11 th September, 2009 with supplement later on 13 th October,2011 in annual supplement to Foreign Trade Policy with a vision to support exporters in competing with foreign export market against high freight cost and other externalities.

Under FMS, the U.S. Government and a foreign government enter into a government-to-government agreement called a Letter of Offer and Acceptance (LOA). Secretary of State determines which countries will have programs. Secretary of Defense executes the program. May be funded by country national funds or U.S. Government funds.

The Foreign Military Sales (FMS) program is a form of security assistance authorized by the Arms Export Control Act (AECA), as amended [22 U.S.C. 2751, et. seq.] and a fundamental tool of U.S. foreign policy. Under Section 3, of the AECA, the U.S. may sell defense articles and services to foreign countries and international organizations when