EXIM Developments SWS Exemption, MEIS/SEIS Capping

Episode Duration:
50 minutes

Episode Background:
As you are aware, various importers procure goods under Advance Authorizations, EPCG, EOU and various other exemption notifications without payment of customs duties including Social Welfare Surcharge(‘SWS’). However, in 2019, the Hon’ble Supreme Court in the matter of Unicorn Industries Limited [TS-1108-SC-2019-EXC] held that there has to be a specific notification for exemption from payment of a particular category of duty/levy/cess. Taking cognizance of this decision, the customs authorities have now started issuing notices/initiating inquiries against importers who have not paid the SWS while importing the goods under any of the exemption notification or export incentive schemes (like EPCG, Advance Authorizations etc). These actions by the authorities are going to have an adverse impact on supply chains for businesses. Additionally, another area of concern for companies is the introduction of capping of benefits under the MEIS and SEIS schemes.

What shall the episode cover?
Against this backdrop, Taxsutra and Economic Laws Practice (ELP) present a webinar on “Recent Investigations on Applicability of Social Welfare Surcharge Exemption & Consequences of Capping of Benefits under MEIS/SEIS”. In this episode, ELP Partners Mr Rohit Jain and Mr Adarsh Somani have analysed the Supreme Court judgement in the matter of Unicorn Industries and its practical impact on various sectors and businesses. The speakers has also covered the issues of capping of benefits under the MEIS and SEIS schemes, opportunities that can be explored and steps to be taken by the assessees.