MEIS and SEIS Scrip Validity: Crucial Advisory on Duty Credit Use

While the Merchandise Exports from India Scheme (MEIS) and Service Exports from India Scheme (SEIS) have been largely replaced by RoDTEP and RoSCTL, many exporters still hold valid duty credit scrips or are resolving pending claims. Managing these scrips effectively remains vital for maintaining healthy cash flows in export operations. According to the **Foreign Trade Policy** and various circulars issued by the CBIC, these scrips are freely transferable and can be used for the payment of Basic Customs Duty (BCD) on imports. However, exporters must remain vigilant regarding the validity period of these scrips. Once a scrip expires, the process for revalidation is highly restricted and usually requires specific intervention from the DGFT headquarters under extraordinary circumstances. ## What this means for exporters If you have unutilized MEIS or SEIS scrips, check the 'Date of Issue' and the expiry period immediately. Scrips should be used for your own imports to save on customs duties, or sold in the open market to liquidity-seeking importers. When purchasing scrips from the market, always verify their authenticity on the DGFT and Customs ICEGATE portals to avoid fraud. Ensuring timely utilization prevents the total loss of the 2% to 5% incentive value originally granted for your export performance.