In order to encourage exports, the central government provides many incentives to exporters.
The benefits to Service Exporters are allowed under the SEIS Scheme and the benefits to Goods Exporters are allowed under the MEIS Scheme.
Both the SEIS and the MEIS Scheme are governed by the latest Foreign Trade Policy which is applicable from 2015 to 2020.
These benefits are not directly given in the form of money but are given in the form of Duty Credit Scrips.
These Duty Credit Scrips can either be used by the taxpayer himself for payment of Customs Duty or he can sell them in the market and get money for the same.
These scrips are easily sellable and most exporters sell them in the open market in exchange for money.
As they are easily sellable, most exporters apply for issuance of these scrips and then sell them in the open market.
The benefits allowed under both these schemes have been mentioned in the following links:-
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