Date: 27th June 2019
Time: 4:00 pm – 5:00 pm
Merchandise Exports from India Scheme (MEIS) introduced under the Foreign Trade Policy of India 2015-20 aims to promote the manufacture and export of notified goods/products.
Recently, various ports across India are raising a contention that the Social Welfare Surcharge cannot be debited against the MEIS Scrips as the Notification No. 24/2015-Cus. is granting exemption only from the Basic Customs Duty (BCD) and the Additional duties leviable under the Customs Tariff Act.
It is contended that as Social Welfare Surcharge is levied under the Finance Act, the same cannot be debited against the MEIS Scrips.
T Viswanathan, Principal Partner and Country Head Customs, Lakshmikumaran & Sridharanwill discuss the issues relating to the subject.