Last Updated on March 27, 2021 by The Health Master
The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has asked Pharma exporters members to submit claims for reimbursement of expenditure incurred on statutory compliances abroad for the year 2021-22 onwards under Market Access Initiative (MAI) Scheme within three months from the date of issue of registration certificate.
Last year in view of the lockdown measures and international travel restrictions due to C-19 outbreak, the department of commerce had extended the time limit for submission of MAI claims pertaining to the fiscal year 2019-20 and 2020-21 from three months to six months.
Pharmexcil in a circular issued to members recently stated that the applications pertaining to fiscal year 2021-22 onwards should be followed as per the 2018 MAI guidelines.
As per the MAI guidelines 2018, a company has to submit their claims online, complete in all aspects, within 90 days from the date of issue of registration certificate for getting reimbursement of 50 per cent expenses incurred under MAI scheme.
Also read:
140 kg of Narcotic drug Alprazolam seized in Hyderabad
Sub-committee on irrational FDCs to hear Mfrs from April 19: DCGI
PCI introduces Industry training programme for Pharmacy Teachers
Dr Reddy’s submits Indian trials data of Sputnik to DCGI
Lok Sabha clears National Commission for Allied and Healthcare Professionals Bill…
Pharmexcil is required to give a certificate stating that the claim is received within 90 days from the date of registration certificate for fiscal year 2021-22 claims while forwarding its recommendations to the department of commerce.
The council has appealed to members to take note of the circular and file their claims with complete information/documents within 90 days from the date of registration for all upcoming financial years from 2021-22 onwards.
It may be noted that the ministry is very particular about timelines and will not entertain any requests for condonation of delays. The claims submitted after 90 days will not be considered. Hence, members are advised to follow the time lines strictly and avoid rejections /returns of their claims, stated the circular issued by the Pharmexcil.
Also read more news about Pharmexcil, click here
The MAI Scheme which was already in existence provides reimbursement of expenditure incurred by exporters on statutory compliance in the export market/nation.
The scheme also avails other benefits like marketing projects abroad, capacity building in specific nation/countries, support for statutory compliance, different studies related to market, export surveys, studies related to evolving WTO compatible strategy, project development and for the development of foreign trade facilitation web portal.
All these benefits already provide considerable assistance to Indian exporters.
In 2019 the commerce ministry had revised MAI Scheme and increased the ceiling amount to be reimbursed for the Indian exporters under MAI Scheme from Rs. 50 lakh per annum to Rs. 2 crore.
The revised MAI scheme is applicable to those who have applied for product registrations and received certification on or after January 7, 2019.
All those who have applied for reimbursement before January 7, 2019 under MAI will be reimbursed up to only Rs. 50 lakh as per earlier provisions.
According to the new guidelines, any exporting company can claim reimbursement of charges incurred towards statutory compliance on a 50:50 sharing basis up to a maximum amount of Rs. 2 crore in a year.
For informative videos by The Health Master, click on the below YouTube icon:
For informative videos on Medical Store / Pharmacy, click on the below YouTube icon:
For informative videos on the news regarding Pharma / Medical Devices / Cosmetics / Homoeopathy etc., click on the below YouTube icon:
For informative videos on consumer awareness, click on the below YouTube icon:
