Ministry of Commerce and Industry vide Notification No. 30/2015-20 dated September 01, 2020, has set a limit on MEIS Benefits available to the exporters on exports made from 01.09.2020 to 31.12.2020. The total reward which can be claimed by an IEC holder does not exceed the ceiling of Rs. 2 Cr. Further, it has also been notified that any IEC holder who has not made any exports for a period of one year preceding 01.09.2020 or any new IECs obtained on or after the date of publication of this Notification would not be eligible for submitting any claim under MEIS scheme.
Further, it has been notified that MEIS Scheme is withdrawn with effect from 01.01.2021. The aforesaid ceiling will be subject to further downward revision to ensure that the total claim under MEIS for the period (01.09.2020 to 31.12.2020) does not exceed the prescribed allocation by the Government, which is Rs 5,000 Cr.
The Notification can be accessed at: https://content.dgft.gov.in/Website/dgftprod/4a37d60a-f0bf-4783-bc67-a17131168d46/N30E.pdf