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The Merchandise Export from India Scheme (MEIS) is a government initiative implemented by the Government of India with the objective of encouraging exports. [ 1 ] [ 2 ] It was launched on April 1, 2015, as a part of the Foreign Trade Policy (FTP) to boost India's exports of goods and services.
ECGC Limited (Formerly Export Credit Guarantee Corporation of India Limited) is a government owned export credit agency of India. It is under the ownership of the Ministry of Commerce and Industry, Government of India, and is headquartered in Mumbai, Maharashtra. [1] It provides export credit insurance support to Indian exporters and banks. Its ...
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The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
Notified on 1/4/1997, the DEPB Scheme consisted of (a) Post-export DEPB and (b) Pre-export DEPB. The pre-export DEPB scheme was abolished w.e.f. 1/4/2000. Under the post-export DEPB, which is issued after exports, the exporter is given a duty entitlement Pass Book Scheme at a pre-determined credit on the FOB value.
Federation of Indian Export Organisations (FIEO) is the apex trade promotion organisation in India set up by the Ministry of Commerce, Government of India, and the private trade and industry segment in 1965. The organisation is responsible for representing and assisting Indian entrepreneurs and exporters in foreign markets.
Open Network for Digital Commerce (ONDC) is a public technology initiative launched by the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India to foster decentralized open e-commerce model and is led by a private non-profit Section 8 company.
Under the Indian 2016 GST Act, any supplies (supply should be defined in accordance with GST India) made by a registered dealer as an export (both goods or services) or supply to an SEZ qualifies for Zero Rated Supplies in GST. This attracts zero rate of taxation and ITC (Input Tax Credit) can also be explained through the e-portal of GST Council.