Scripbazaar.com is an online trading platform for EXIM (export-import) scrips. The platform trades in MEIS & SEIS scrips. You will be able to buy or sell MEIS & SEIS scrips at the click of a button on this platform. Scripbazaar.com has a live trading ticker and intra-day and historical data to show the ‘buy’ and ‘sell’ prices for scrips. Scripbazaar.com is a completely safe and secure platform that deals in ‘only verified, genuine’ scrips. It carries the authenticity stamp of The Dollar Business, India’s recognized and leading platform on foreign trade.
Based on technical analysis and market economics, Scripbazaar.com has buying and selling price guidances for each scrip. If you are interested in buying scrips, you can buy at the quoted price and the physical scrips will be delivered to your doorstep/port of import. If you are interested in selling, you can put up a request with the details of the scrip you want to sell. Scripbazaar.com will have the physical scrip picked up from your address and transfer the money to your account. So, how does it work? It works simple!
Exim/Duty Credit scrips are scrips given to exporters as “incentives” by the Government of India. While Merchandise Exports from India Scheme (MEIS) scrips are given for goods exports, Service Exports from India Scheme (SEIS) scrips are given for services exports. The value of the scrips are a percentage of the FOB value of goods/services exported and are freely transferable. The scrips can be used to offset customs duty while importing. Recently, the government has removed the GST chargeable on sale of these scrips. The GST chargeable on sale of Exim/Duty Credit scrips is now ZERO!
Merchandise Exports from India Scheme is popularly known as MEIS. MEIS is a duty scrip given as a reward by the government to an exporter of goods. The value of the scrips is 2% to 5% of the FOB value of goods exported. There are more than 5000 tariff lines which are eligible for MEIS. The scrips can be used to offset import duties and are freely transferable. (Note: The DGFT notifies the goods eligible for MEIS from time to time; TDB’s Scripbazaar offers full guidance on that on its ‘Check my eligibility’ section.)
Services Exports from India Scheme is popularly known as SEIS. The SEIS is a duty scrip given as a reward by the government to an exporter of services. The value of the scrips is 3% to 5% of the value of services exported. The scrips can be used to offset import duties and are freely transferable. Starting FTP 2-15-2020, service providers located in India are also eligible for benefits under the scheme. (Note: The DGFT notifies the services eligible for SEIS from time to time; TDB’s Scripbazaar offers full guidance on that on its ‘Check my eligibility’ section.)
MEIS and SEIS scrips are valid for a period of 18 months from the date of issuance of the scrips. The limited validity of scrips means delays in realizing its value could mean loss of complete value of the license. [No half measures here!]
Revalidation of scrips is not permitted unless validity has expired while in custody of Customs Authority /RA. Revalidation of scrips is not permitted unless covered under paragraph 2.20(c) of the Handbook of Procedures (HBP) of the Foreign Trade Policy 2015-2020. This is primarily the reason why EXIM scrips should only be sold on or bought on a reliable platform like Scripbazaar.com.
GST charged on the sale of MEIS/SEIS is ZERO percent
On Scripbazaar.com, there are ‘absolutely ZERO hidden’ fees. Scripbazaar.com is a transparent platform. The buying and selling prices that are quoted are all inclusive charges. Here, what you see is what you get.
The MEIS rate of your product is available here. (Note: The DGFT notifies the goods eligible for MEIS from time to time; TDB’s Scripbazaar offers full guidance on that on its ‘Check my eligibility’ section.)
The SEIS rate on your service is available here. (Note: The DGFT notifies the goods eligible for MEIS from time to time; TDB’s Scripbazaar offers full guidance on that on its ‘Check my eligibility’ section.)
Applying for MEIS is a simple procedure and can be done online on DGFT’s website with the concerned RA concerned in Aayat Niryat Form (ANF) 3A using digital signature. The relevant shipping bills and e-BRC shall be linked with the online application. The process of filing an MEIS application can be found here.
Applying for SEIS is simple and can be done online on DGFT’s website. An application for grant of duty credit scrip for eligible services rendered can be filed online for a financial year on annual basis in ANF 3B using digital signature. The process of filing an SEIS application can be found here.
MEIS and SEIS scrips are freely transferable and are usable for payment of Customs Duty (BCD), Anti-Dumping Duty (ADDs) and Safeguard Duties. The duty credit scrips cannot be used for payment of IGST (Integrated Goods and Services Tax) and GST compensation cess in imports, and CGST, SGST, IGST and GST compensation cess for domestic procurement.
Yes. Scrips are freely transferable as per para 3.02 of FTP.
The rates of MEIS/SEIS Exim scrips keep fluctuating. You get the best LIVE rates on Scripbazaar.com for your scrip(s).
MEIS rates vary from 2% to 5% on eligible products. To check MEIS rate of your product click here.
Yes. As per para 3.06 of FTP, the following exports categories /sectors are ineligible for Duty Credit Scrip entitlement under MEIS
Some services that get higher (5%) rate of SEIS are professional Services, R&D, communication services, construction services, engineering services, and health and education services. To check SEIS rate for your service, click here.
Yes, some services including those rendered by financial institutions for raising loans are ineligible. Foreign exchange remittances other than those earned for rendering of notified services would not be counted for entitlement. Other sources of foreign exchange earnings such as equity or debt participation, donations, receipts of repayment of loans, etc., and any other inflow of foreign exchange, unrelated to rendering of service, are ineligible. To eligibility of your service for SEIS, click here.
There is a time limit. Applications have to be made within 3 months from the date of uploading EDI shipping bills on the DGFT server, or 3 months from the date of print/release of shipping bills (for non-EDI bills) or twelve months from the Let Export (LEO) date, whichever is later, in respect of shipments for which claim is being filed. For SEIS, the last date for filing application shall be 12 months from the end of relevant financial year of claim period.
To claim MEIS, export shipments would need the following declaration on the Shipping Bills in order to be eligible for claiming rewards under MEIS: Reward column of the shipping bill should check (‘YES’). This is called the declaration of intent.
If you have filed under (‘No’) reward scheme you cannot claim MEIS.
Yes, it is mandatory to get EXIM scrips registered at customs. Your CHA should be able to help you register your EXIM scrips at customs. In case of scrip applied under Service Exports from India Scheme, the applicant can choose any port as port of registration and mention it in the application at the appropriate column.
Yes. However unregistered scrips attract lesser rate, due to additional process burden on the buyer.
Exim scrips are typically sold at a discount. Say the face value of a scrip is Rs.100 and it is being sold at a price of say Rs.90. You can now utilise it at customs while importing goods at a 100% face value of Rs.100 and save Rs.10. [Note: Prices quoted above are for illustration purpose only. Actual prices offered for the scrips are dynamic and are based on technical and market factors.]
Exim scrips are typically sold at a discount. Say the face value of a scrip is Rs.100 and it is being sold at a price of Rs.95, you save Rs.5 if you use that scrip during payment of duty during imports. If you buy an EXIM scrip of a face value of Rs.5,00,000 at Rs.4,50,000, and you want to import goods which have a customs duty on them of say Rs.5,00,000, you will be able to pay the entire Rs.5,00,000 of the customs duty through your EXIM scrips. So in this case you save Rs.50,000 by buying EXIM scrips. [Note: Prices quoted above are for illustration purpose only. Actual prices offered for the scrips are dynamic and are based on technical and market factors.]
No, you cannot return unutilized/balance value. However you can use the balance value to offset customs duty on other imports, or you can sell the unutilised portion of an EXIM scrip.
Every scrip that is traded on Scripbazaar.com goes through thorough inspection and check at various levels DGFT, Customs etc. Scripbazaar.com does not trade in a scrip that fails a check at any level.
Scripbazaar.com only sells registered EXIM Scrips.