Economy

Commerce ministry fixes December 31 as deadline for exporters to submit applications for pending dues

The final date for exporters to submit on-line purposes to assert their pending dues underneath totally different export promotion schemes will likely be December 31, in response to a notification of the commerce ministry. On September 9, the federal government introduced to launch Rs 56,027 crore in opposition to pending tax refunds of exporters underneath totally different export incentive schemes.

For claiming pending refunds underneath merchandise exports from India Scheme (MEIS), the ministry stated, exporters can submit purposes for exports made within the interval July 1, 2018 to March 31, 2019 and from April 1, 2019 to March 31, 2020 and from April 2020 to December 31, 2020.

Beneath services export from India Scheme (SEIS), they will file purposes for exports made throughout 2018-20.

“The final date for submitting on-line purposes underneath MEIS, SEIS, ROSCTL, ROSL and a pair of per cent extra adhoc incentive has been notified to be December 31, 2021,” it stated.

Equally, textile exporters can file purposes for exports made throughout March 7, 2019 to December 31, 2020 underneath RoSCTL (Rebate of State and Central Levies and Taxes) scheme.

It added that after December 31, no additional purposes can be allowed to be submitted and they’d turn into time-barred.

Additional, the validity interval of obligation credit score scrips or certificates issued on or after September 16, 2021 shall be 12 months from the date of problem.

Commenting on this, former FIEO President S Okay Saraf stated that the choice of extending the final date for software of scrip-based schemes is a welcome transfer.

It reveals the federal government’s sensitivity to the difficulties confronted by exporters in these difficult occasions, he stated including, nevertheless, the DGFT must make the appliance portals operational and guarantee their steady working.


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