ANNOUNCEMENT 07 Oct 2015

In October 2015, the government of India announced a change in financial export support.

NUMBER OF INTERVENTIONS

3

  • 3 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Official press release -

"Commerce Secretary Holds Deliberations with Export Promotion Councils to Seek Views on Promoting Exports "
http://pib.nic.in/newsite/PrintRelease.aspx?relid=128526

Inception date: 07 Oct 2015 | Removal date: 31 Mar 2016
Still in force

Tax-based export incentive

On 7 October 2015, as per an official Press release India increased the funds allocation for exports under the Merchandise Exports Incentive Scheme (MEIS) for the financial year 2015 (until 31 March 2016) from INR 18,000 crore (USD 2771 million) to INR 21,000 crore (USD 3233 million). The MEIS, announced in April 2015 with the new Foreign Trade Policy, provides tax credits ranging from 2-5% of the export value of more than 3500 products. The product scope and credit amount depend on the destination country. 

The countries belonging to MEIS Country Group A are the EU members plus Canada and the United States of America. For exports to those countries, a total of 2338 products (defined at the HS 8-digit level) are eligible for the incentives.

 

AFFECTED PRODUCTS

 
040510 040590 040690 050610 050690 050790 051000 051199 080132 090411 090412 090422 100790 121120 121190 130219 130231 150420 200819 220300 281830 290124 290220 290241 290243 290244 290329 290339 290371 290389 290391 290399 290544 290719 290722 290950 291540 291719 291816 291821 291830 292151 292229 292241 292249 292250 292310 292429 292800 293090 293220 293293 293311 293319 293329 293331 293339 293353 293359 293391 293499 293500 293622 293629 293690 293712 293719 293721 293722 293723 293729 293750 293790 293810 293890 293920 293930 293941 293943 293959 293999 294110 294150 294190 294200 300210 300220 300230 300290 300310 300320 300339 300390 300410 300420 300431 300432 300439 300440 300450 300490 300510 300590 300610 300630 300650 300660 350790 390760 391000 391290 391390 400121 400122 410419 410449 410711 410712 410719 410791 410799 411200 411310 411390 411420 420321 500500 500710 500720 500790 510529 510610 510620 510710 511219 520811 520812 520813 520819 520821 520822 520823 520829 520831 520832 520833 520839 520842 520843 520849 520851 520852 520859 520911 520912 520919 520921 520929 520931 520932 520939 520941 520942 520943 520959 521111 521132 521139 521142 521211 521212 521213 521214 521215 521223 521225 530500 530911 530919 530929 540247 540310 540710 540742 540752 540753 540754 540761 540769 540774 540781 540782 540783 540792 540793 540794 550921 550922 550932 550952 550959 550962 550999 551011 551012 551030 551090 551110 551311 551319 551321 551329 551349 551411 551412 551429 551449 551511 551512 551513 551519 551599 551623 551642 560121 560311 560312 560313 560314 560394 560729 560750 560811 560819 560900 570320 570330 570500 580136 580137 580632 581091 581099 590190 590210 590290 590699 590700 590800 591000 591110 591190 600191 600410 600490 600621 600622 600623 600624 600631 600632 600690 610120 610190 610220 610310 610322 610323 610329 610332 610342 610343 610349 610413 610419 610422 610429 610442 610443 610444 610449 610452 610453 610459 610462 610463 610469 610510 610520 610590 610610 610620 610690 610711 610712 610719 610721 610729 610791 610799 610811 610819 610821 610822 610829 610831 610832 610839 610891 610892 610910 610990 611011 611020 611030 611090 611120 611130 611190 611211 611420 611430 611490 611595 611596 611599 611610 611693 611710 611780 620111 620112 620192 620193 620211 620212 620213 620292 620311 620312 620319 620331 620332 620333 620339 620341 620342 620343 620349 620412 620413 620419 620423 620429 620432 620433 620439 620442 620443 620444 620449 620452 620453 620459 620462 620463 620469 620520 620530 620590 620610 620630 620640 620690 620711 620719 620721 620791 620819 620821 620822 620891 620892 620899 620920 620930 620990 621010 621020 621040 621050 621112 621132 621133 621139 621142 621143 621149 621210 621320 621410 621420 621430 621440 621490 621600 621710 621790 630120 630130 630140 630190 630210 630221 630222 630229 630231 630232 630239 630251 630253 630259 630260 630291 630293 630319 630391 630392 630399 630419 630491 630492 630493 630499 630520 630532 630533 630539 630619 630710 640199 640219 640220 640291 640299 640520 640610 640690 650700 720110 720150 720211 720219 720221 720229 720230 720241 720249 720299 720310 720390 720529 720711 720712 720719 720720 720810 720825 720826 720827 720836 720837 720838 720839 720840 720851 720852 720853 720854 720890 720915 720916 720917 720918 720926 720927 720928 720990 721012 721041 721049 721061 721069 721070 721090 721123 721129 721190 721220 721230 721240 721250 721310 721391 721399 721410 721420 721491 721499 721550 721590 721610 721621 721631 721632 721633 721640 721699 721710 721720 721790 721899 721911 721912 721913 721914 721921 721922 721923 721931 721932 721933 721934 721990 722011 722012 722020 722090 722100 722211 722220 722230 722240 722300 722490 722519 722530 722592 722599 722699 722790 722810 722830 722840 722850 722860 722990 732010 740100 741011 741012 741110 741121 741122 741220 741300 741521 741529 741533 741539 741820 741999 750210 750511 750521 750522 750712 750890 760110 760120 760310 760320 760410 760429 760511 760521 760529 760611 760612 760691 760692 760711 760719 760720 760820 760900 761090 761210 761290 761410 761490 761510 761610 761699 790700 800700 810196 810199 810890 811010 811100 820110 820130 820140 820190 820840 821210 821220 830120 830140 830160 830170 830210 830220 830230 830241 830242 830249 830250 830300 830510 830520 830710 830890 830910 830990 831000 831110 831190 840211 840212 840219 840290 840310 840390 840410 840420 840490 840510 840681 840682 840690 840710 840733 840734 840790 840810 840820 840890 840910 840991 840999 841012 841013 841090 841112 841122 841181 841182 841191 841199 841210 841221 841229 841231 841239 841280 841290 841430 841440 841451 841459 841480 841490 841510 841520 841582 841583 841590 841620 841690 841710 841780 841790 841810 841821 841829 841850 841861 841869 841899 841911 841919 841920 841939 841940 841950 841960 841981 841989 842111 842119 842121 842131 842139 842191 842330 842390 842410 842481 842489 842511 842539 842549 842611 842619 842620 842630 842649 842699 842720 842810 842820 842833 842839 842890 842911 842920 842940 842951 842952 842959 843041 843049 843061 843069 843110 843120 843139 843141 843143 843149 843210 843221 843229 843290 843351 843352 843359 843390 843420 843510 843610 843621 843629 843699 843710 843780 843790 843810 843830 843840 843860 843880 843890 843920 843991 843999 844110 844130 844180 844250 844311 844313 844316 844317 844319 844332 844391 844399 844400 844511 844512 844513 844519 844520 844530 844540 844590 844629 844819 844831 844832 844833 844849 844851 845011 845012 845090 845140 845180 845190 845210 845230 845410 845420 845430 845510 845521 845522 845530 845610 845710 845811 845819 845891 845940 846090 846150 846190 846210 846229 846239 846249 846299 846310 846330 846490 846510 846599 846610 846620 846630 846692 846711 846719 846729 846792 846880 847130 847141 847149 847150 847160 847170 847180 847190 847290 847329 847330 847340 847410 847420 847431 847432 847439 847480 847590 847710 847720 847730 847751 847759 847780 847810 847920 847940 847960 847981 847989 847990 848060 848120 848130 848180 848190 848210 848220 848230 848240 848250 848291 848310 848320 848350 848360 848410 848490 848690 848710 850110 850131 850134 850140 850151 850152 850153 850161 850162 850163 850164 850211 850212 850213 850220 850231 850239 850300 850410 850421 850422 850423 850431 850432 850433 850434 850440 850450 850490 850590 850610 850680 850710 850720 850730 850780 850790 850940 850990 851130 851140 851150 851180 851210 851220 851230 851240 851290 851310 851410 851420 851430 851629 851679 851680 851690 851711 851712 851718 851761 851762 851769 851770 851840 851850 851890 852190 852329 852341 852349 852351 852352 852359 852550 852560 852580 852610 852691 852692 852719 852729 852851 852859 852869 852871 852872 852873 852910 852990 853010 853090 853110 853120 853180 853190 853210 853225 853290 853310 853340 853400 853510 853521 853529 853530 853540 853590 853610 853620 853630 853641 853649 853650 853669 853670 853690 853710 853720 853810 853890 853921 853931 853932 853939 853990 854091 854110 854129 854130 854140 854150 854160 854190 854231 854232 854239 854290 854330 854370 854390 854411 854419 854420 854430 854449 854460 854470 854511 854520 854590 854790 860610 860699 860721 860729 860730 860791 860799 860800 860900 870600 870790 870810 870821 870829 870840 870850 870870 870880 870891 870892 870893 870894 870899 870990 871200 871310 871410 871420 871492 871493 871496 871499 871680 871690 900110 900150 900190 900211 900219 901180 901380 901420 901490 901580 901590 901720 901730 901780 901811 901812 901813 901819 901831 901832 901839 901850 901890 901920 902110 902121 902139 902190 902214 902230 902290 902300 902480 902519 902580 902590 902610 902620 902680 902690 902710 902720 902730 902780 902790 902810 902830 902890 902920 903010 903033 903040 903089 903090 903120 903149 903180 903190 903210 903281 903289 903290 903300 940510 940520 940540 940550 950490 950662 950669 950699 950790 960200
(+ 1148 more)
Inception date: 07 Oct 2015 | Removal date: 31 Mar 2016
Still in force

Tax-based export incentive

On 7 October 2015, as per an official Press release India increased the funds allocation for exports under the Merchandise Exports Incentive Scheme (MEIS) for the financial year 2015 (until 31 March 2016) from INR 18,000 crore (USD 2771 million) to INR 21,000 crore (USD 3233 million). The MEIS, announced in April 2015 with the new Foreign Trade Policy, provides tax credits ranging from 2-5% of the export value of more than 3500 products. The product scope and credit amount depend on the destination country. 

The countries belonging to MEIS Country Group B are a diverse set of 138 nations. For exports to those countries, a total of 2338 products (defined at the HS 8-digit level) are eligible for the incentives.

The countries belonging to Group B are Algeria, Angola, Antigua & Barbuda, Argentina, Armenia, Azerbaijan, Bahamas, Bahrain, Barbados, Belarus, Belize, Benin, Bermuda, Bolivia, Botswana, Brazil, British Virgin Islands, Brunei Darussalam, Burkina Faso, Burundi, Cambodia, Cameroon, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Chinese Taipei, Colombia, Comoros, Congo, Costa Rica, Ivory Coast, Cuba, Republic of Korea, DR Congo, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Ethiopia, Falkland Islands, French Guiana, Gabon, Gambia, Georgia, Ghana, Grenada, Guadeloupe, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Indonesia, Iran, Iraq, Israel, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lao, Lebanon, Lesotho, Liberia, Libya, Madagascar, Malawi, Malaysia, Mali, Martinique, Mauritania, Mauritius, Mexico, Montserrat, Morocco, Mozambique, Myanmar, Namibia, Netherlands Antilles, Nicaragua, Niger, Nigeria, Oman, Panama, Paraguay, Peru, Philippines, Qatar, Republic of Moldova, Réunion, Russia, Rwanda, Saint Helena, Saint Kitts & Nevis, Saint Lucia, Saint Vincent & the Grenadines, Sao Tome & Principe, Saudi Arabia, Senegal, Seychelles, Sierra Leone, Singapore, Somalia, South Africa, Republic of the Sudan, Suriname, Swaziland, Syria, Tajikistan, Thailand, Togo, Trinidad & Tobago, Tunisia, Turkey, Turkmenistan, Turks & Caicos Islands, Uganda, Ukraine, United Arab Emirates, Tanzania, US Virgin Islands, Uruguay, Uzbekistan, Venezuela, Vietnam, Yemen, Zambia and Zimbabwe.

 

 
040510 040590 040690 050610 050690 050790 051000 051199 080132 090411 090412 090422 100790 121120 121190 130219 130231 150420 200819 220300 281830 290124 290220 290241 290243 290244 290329 290339 290371 290389 290391 290399 290544 290719 290722 290950 291540 291719 291816 291821 291830 292151 292229 292241 292249 292250 292310 292429 292800 293090 293220 293293 293311 293319 293329 293331 293339 293353 293359 293391 293499 293500 293622 293629 293690 293712 293719 293721 293722 293723 293729 293750 293790 293810 293890 293920 293930 293941 293943 293959 293999 294110 294150 294190 294200 300210 300220 300230 300290 300310 300320 300339 300390 300410 300420 300431 300432 300439 300440 300450 300490 300510 300590 300610 300630 300650 300660 350790 390760 391000 391290 391390 400121 400122 410419 410449 410711 410712 410719 410791 410799 411200 411310 411390 411420 420321 500500 500710 500720 500790 510529 510610 510620 510710 511219 520811 520812 520813 520819 520821 520822 520823 520829 520831 520832 520833 520839 520842 520843 520849 520851 520852 520859 520911 520912 520919 520921 520929 520931 520932 520939 520941 520942 520943 520959 521111 521132 521139 521142 521211 521212 521213 521214 521215 521223 521225 530500 530911 530919 530929 540247 540310 540710 540742 540752 540753 540754 540761 540769 540774 540781 540782 540783 540792 540793 540794 550921 550922 550932 550952 550959 550962 550999 551011 551012 551030 551090 551110 551311 551319 551321 551329 551349 551411 551412 551429 551449 551511 551512 551513 551519 551599 551623 551642 560121 560311 560312 560313 560314 560394 560729 560750 560811 560819 560900 570320 570330 570500 580136 580137 580632 581091 581099 590190 590210 590290 590699 590700 590800 591000 591110 591190 600191 600410 600490 600621 600622 600623 600624 600631 600632 600690 610120 610190 610220 610310 610322 610323 610329 610332 610342 610343 610349 610413 610419 610422 610429 610442 610443 610444 610449 610452 610453 610459 610462 610463 610469 610510 610520 610590 610610 610620 610690 610711 610712 610719 610721 610729 610791 610799 610811 610819 610821 610822 610829 610831 610832 610839 610891 610892 610910 610990 611011 611020 611030 611090 611120 611130 611190 611211 611420 611430 611490 611595 611596 611599 611610 611693 611710 611780 620111 620112 620192 620193 620211 620212 620213 620292 620311 620312 620319 620331 620332 620333 620339 620341 620342 620343 620349 620412 620413 620419 620423 620429 620432 620433 620439 620442 620443 620444 620449 620452 620453 620459 620462 620463 620469 620520 620530 620590 620610 620630 620640 620690 620711 620719 620721 620791 620819 620821 620822 620891 620892 620899 620920 620930 620990 621010 621020 621040 621050 621112 621132 621133 621139 621142 621143 621149 621210 621320 621410 621420 621430 621440 621490 621600 621710 621790 630120 630130 630140 630190 630210 630221 630222 630229 630231 630232 630239 630251 630253 630259 630260 630291 630293 630319 630391 630392 630399 630419 630491 630492 630493 630499 630520 630532 630533 630539 630619 630710 640199 640219 640220 640291 640299 640520 640610 640690 650700 720110 720150 720211 720219 720221 720229 720230 720241 720249 720299 720310 720390 720529 720711 720712 720719 720720 720810 720825 720826 720827 720836 720837 720838 720839 720840 720851 720852 720853 720854 720890 720915 720916 720917 720918 720926 720927 720928 720990 721012 721041 721049 721061 721069 721070 721090 721123 721129 721190