Extension of Last Date for Submitting applications for Scrip based FTP Schemes

## Policy Analysis Report: Amendment to Foreign Trade Policy 2015-20 **1. Executive Summary:** This report analyzes an amendment to the Foreign Trade Policy (FTP) 2015-20, specifically focusing on modifications to Para 3.13A concerning the last date for submitting online applications for scrip-based schemes. The amendment, enacted via Notification No. 53/2015-2020, extends the deadline for application submissions to February 28, 2022, and clarifies the late cut provisions for various schemes, including MEIS, SEIS, ROSCTL, ROSL, and the 2% additional ad hoc incentive. This extension aims to provide exporters with additional time to submit their claims and avoid them becoming time-barred. **2. Introduction:** The purpose of this report is to provide a detailed analysis of the amendment to the Foreign Trade Policy (FTP) 2015-20, as outlined in the provided government policy text. The report focuses on the changes related to the deadlines for submitting online applications for scrip-based schemes. **3. Policy Overview:** * **Original Policy Amended:** Foreign Trade Policy 2015-20. * **Core Objective(s) (inferred):** While the original policy objective isn't explicitly stated in the provided text, it can be inferred that the FTP 2015-20 aims to promote and regulate foreign trade. This amendment's objective is to modify the existing application deadlines for scrip-based incentive schemes available to exporters. **4. Background and Rationale:** This amendment addresses the approaching deadlines for submitting online applications for various export incentive schemes. The initial deadlines, as notified previously, were deemed insufficient, likely due to administrative burdens or unforeseen circumstances faced by exporters. This extension allows exporters more time to compile documentation and submit their applications, preventing potential loss of benefits due to missed deadlines. The clarification on late cut provisions ensures transparency regarding the consequences of delayed submissions. **5. Key Provisions / Changes:** This section details the specific changes introduced by the amendment: * **Part of the Original Policy Being Changed:** Para 3.13A of the FTP 2015-20, which deals with the "Last Date of Submitting Applications for Scrip based Schemes." This amendment also supersedes provisions within the Hand Book of Procedures (HBP) 2015-20 related to application deadlines and late cut rules. * **New Rule/Provision:** * The last date for submitting online applications for MEIS, SEIS, ROSCTL, ROSL, and the 2% additional ad hoc incentive schemes is extended to **February 28, 2022**. * After February 28, 2022, no further applications will be accepted, and claims will become time-barred. * Late cut provisions will not be available for submitting claims after the extended deadline. * New late cut provisions are specified for certain schemes and periods for applications submitted up to February 28, 2022. Specific percentages for MEIS (FY 2018-19) and SEIS (FY 2018-19) are detailed in the provided chart. The late cut is "Nil" for MEIS (FY 2019-20 and FY 2020-21), SEIS (FY 2019-20), ROSCTL, and ROSL. * **Difference/Effect of the Change:** * Exporters now have until February 28, 2022, to submit applications for the specified schemes, preventing their claims from becoming time-barred prematurely. * The amendment ensures that exporters are aware of the new, potentially less severe, late cut provisions if they submit applications close to the deadline. **6. Target Audience and Stakeholders:** The primary target audience and stakeholders directly affected by this amendment are: * Exporters claiming benefits under the following schemes: * Merchandise Exports from India Scheme (MEIS) * Service Exports from India Scheme (SEIS) * Rebate of State and Central Taxes and Levies (ROSCTL) * Rebate of State Levies (ROSL) * Beneficiaries of the 2% additional ad hoc incentive under para 3.25 of the FTP. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Directorate General of Foreign Trade (DGFT) is responsible for implementing and overseeing the amended policy. The notification is issued by the Ministry of Commerce and Industry, Department of Commerce. * **Timelines:** The key timeline specified is the extended deadline of February 28, 2022, for submitting online applications. * **Procedures:** Exporters must submit their applications online through the DGFT portal. The Hand Book of Procedures (HBP) 2015-20 outlines the detailed procedures for application submission and claim processing. * **Implementation specific to the changes**: * The amended late cut provisions now apply to applications submitted before the extended deadline. **8. Expected Outcomes / Impact of Changes:** The likely intended outcomes of this amendment are: * Increased application submission rates for the specified export incentive schemes as exporters now have an extended timeframe to apply. * Reduced instances of claims becoming time-barred due to missed deadlines. * Facilitation of the export community by providing additional time and clarity regarding application procedures and late cut provisions. * Better utilization of export incentive schemes, potentially leading to increased export performance. **9. Conclusion:** The amendment to Para 3.13A of the Foreign Trade Policy 2015-20, extending the deadline for online application submissions for various scrip-based schemes to February 28, 2022, is a significant development for the export community. By providing additional time and clarifying late cut provisions, the amendment aims to facilitate the application process, minimize the risk of claims becoming time-barred, and promote better utilization of export incentive schemes. This extension is likely to positively impact exporters and contribute to the overall growth of India's foreign trade.

Key Entities Referenced