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FAQs

Frequently Asked Questions

Trade Info

What kind of duties can be paid under the scrip?
Under Para 3.02 of FTP, basic custom duty, additional duty, special additional duty on import, excise duty, and service tax can be paid by using scrip. The relevant provisions under FTP, Custom, Excise and Service tax are as under:

Particulars

MEIS

SEISSFIS

SHIS

 

 

 

 

FTP

As per para.3.02

As per para.3.02

NA

 

 

 

 

HBP

Notification No.08/2015.04.06.2015

Notification No.08/2015.04.06.2015

NA

 

 

 

 

Customs

Cust.Circular No.14/2015 Dt.20.04.2015

Cust.Circular No.14/2015 Dt.20.04.2015

NA

 

 

 

 

Excise

As per para.3.02

As per para.3.02

NA

 

 

 

 

Service Tax

As per para.3.02

As per para.3.02

NA

 

 

 

 

 
Are the scrip transferable?
MEIS, SEIS, and DFIA are issued on post export basis and they are freely transferable.
 
Is there any restriction on the use of scrip?
The scrip cannot be used for items covered in SHIS. Besides this, the scrip can only be used for payment of permissible duty.
 
Can an importer use multiple scrip in lieu of custom duties?
Yes, use of multiple scrip in lieu of custom duty under one Bill of Entry is permitted.
 
Can the same scrip be used multiple times?
Yes, the scrip can be used on multiple occasions.
 
Can the same scrip be transferred in part to different buyers?
Yes, the scrip can be transferred in part to various buyers.
 
How to check transmission from DGFT to Customs?
Yes, the scrip needs to be registered. The Transmission status of the scrip From DGFT to Customs can be checked by providing the scrip number and IEC no. at www.icegate.com and www.dgft.gov.in
 
Does the scrip need verification by customs?
Since the EDI system of DGFT and customs has been upgraded, all the data exchange is interlinked between them. The scrip after being issued is transmitted to customs by the Office of DGFT. Therefore, the need for verification has been dispensed at most of the ports itself.
 
How do we check the issuance and genuineness of the scrip?
The genuineness of the scrip can be checked through the website of DGFT and Customs by providing the IEC Number and scrip number.
 
If the scrip is purchased under CST, is “C” form necessary?
Under the VAT/CST law in different states, trade of all scrip is considered as trade of goods. Hence, wherever scrip is sold by charging CST, the seller will require a C-form. In its absence, the seller will be liable for VAT at prevailing rate.
 
How are the rates fixed for the scrip?
The rate of the scrip depends upon market conditions (availability and demand). It has been observed that the rate excluding taxes usually varies between 96.5% and 98.5%.
 
What duties are exempted under DFIA?
Under Para 4.25 of FTP and custom notification No. CUS NTF NO. 40/2006 DATE 01/05/2006,  import using DFIA are exempted from payment of basic custom duty alone.
 
In the case of DFIA,do input and output norms have to be fixed?
DFIA can only be issued in respect of items for the input and output norms. They are fixed under Para 4.06 of HBP (Vol-II)
 
Can the scrip be used in lieu of duty payment in the event of default of export obligation?
The duty balance under scrip is equivalent to duty itself. Hence the scrip can be used for both payment of duty and regularization of default. However, interest cannot be paid using scrip.
 
How long is the scrip usually valid for?
Para 2.16 and 3.13 of HBP provides the validity of different types of Scrip. It can be found here : www.eximkey.com
 
Is the scrip valid up to the last date of the month? Or is the validity decided from the date of issue?
The validity is determined on the basis of the date of issue.
 

Our platform

How can we assist you with the purchase and sale of scrip?
Eximscrip provides a reliable and easy to use platform for finding buyers and sellers of scrip. You can create an account and immediately start interacting with the other users on this website.
 
Want to contact us?
Please send an enquiry and we will get back to you as soon as we can.
 
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What are the common methods of payment for these scrip?
The payment is made in a mutually agreed manner between the buyer and seller. Most of the sellers prefer payment against delivery. Hence, the buyer should ensure genuineness and also check all the documents.
 
What are the common methods of transferring the scrip?
The scrip can be transferred by presenting a letter. A sample transfer letter is linked here.