Limit imposed on total rewards under Merchandise Exports from India Scheme

A limit has been imposed on total rewards under the Merchandise Exports from India Scheme (MEIS). A notification issued by Directorate General of Foreign Trade last evening says that the total reward which may be granted to an Importer Exporter Code, IEC holder under the scheme shall not exceed two crore rupees per IEC of exports made in the period 1st September to 31st December this year.   Further, it has also been informed that any IEC holder who has not made any exports for a period of one y...