Glossary of duty credit scrip terms - ScripX Docs

Every term an exporter, importer or desk runs into when trading duty credit scrips in India, with the ScripX API field that carries it where one exists.

Schemes and instruments

Term	Meaning
Duty credit scrip	A transferable electronic credit issued by the Government of India that pays customs duty at face value. Exporters earn them, importers spend them. See What is a duty credit scrip?
RoDTEP	Remission of Duties and Taxes on Exported Products. The general export remission scheme, in force from January 2021, covering most exported goods. API `scheme` value `RODTEP`. See RoDTEP explained.
RoSCTL	Rebate of State and Central Taxes and Levies. The remission scheme for apparel and made-ups, HS chapters 61, 62 and 63, in force from March 2019. API `scheme` value `ROSCTL`. See RoSCTL explained.
MEIS	Merchandise Exports from India Scheme, the predecessor incentive withdrawn and replaced by RoDTEP and RoSCTL. Listed here because older documentation still refers to it.
e-scrip	The electronic form a duty credit takes in the customs ledger, with a scrip number, a face value, a balance and a validity date.
Scroll	The sanctioned claim amount generated by customs from filed shipping bills. A scroll is not yet a scrip: it must be converted before it can be transferred or used.
Duty drawback	A cash refund of customs duty paid on imported inputs, paid to a bank account. Not an instrument, not transferable, and routinely confused with a scrip.
Advance Authorisation	A licence permitting duty-free import of inputs for export production. An exemption granted upfront, not a tradable credit.

Parties and systems

Term	Meaning
IEC	Importer Exporter Code, the ten-character identifier issued by DGFT that every Indian importer and exporter trades under. The primary key for a firm across customs systems and across the ScripX API.
ICEGATE	The Indian Customs Electronic Gateway, the CBIC portal through which shipping bills and Bills of Entry are filed and the e-scrip ledger is maintained. Scrip transfer and utilisation both happen here. See Scrip transfer on ICEGATE.
DGFT	Directorate General of Foreign Trade. Owns export scheme policy, eligibility and rate schedules, and issues the IEC.
CBIC	Central Board of Indirect Taxes and Customs. Owns customs duty rules, claim processing, the scrip ledger and utilisation.
Exporter	The party that earns the credit. API `role` value `exporter`, the sell side of the market.
Importer	The party that consumes the credit against duty. API `role` value `importer`, the buy side of the market.
CHA	Customs House Agent, now formally a Customs Broker. Files documents for importers and exporters, and frequently arranges scrip trades for its clients.

Documents and customs terms

Term	Meaning
Shipping bill	The customs document filed for an export. The RoDTEP or RoSCTL claim declaration is made here, at filing, and cannot be added afterwards.
Bill of Entry (BoE)	The customs document filed for an import, on which duty is assessed and paid. Scrips are applied against duty at this point.
EGM	Export General Manifest, the carrier’s filing confirming that goods have left. Claim processing follows from the filed shipping bill and EGM.
BCD	Basic Customs Duty, the head of duty that duty credit scrips can pay. Scrips do not pay IGST on imports, and do not pay most cesses and surcharges.
IGST on imports	Integrated GST charged on imported goods. Not payable with a scrip.
FOB	Free On Board value of the exported goods. RoDTEP and RoSCTL rates are notified as a percentage of FOB, often with a per-unit value cap.
HS code / HSN	The Harmonised System classification of goods. Remission rates are notified against 8-digit HS codes, so a product’s classification determines its rate.
HSN 4907	The classification under which duty credit scrips fall for GST purposes. Scrip sales are GST-exempt under Notification 02/2017, so there is no GST on the scrip value in a transfer.

Trading and pricing

Term	Meaning
Face value	The duty-paying power of a scrip in rupees. API field `face_paise`, in integer paise.
Balance	The duty-paying power still remaining after any utilisation. API field `balance_paise`. A partly used scrip is priced on balance, not on face.
Discount	The gap between face value and price, as a percentage of face. The market price of turning a future duty credit into cash today. See Price and discount explained.
Basis point (bps)	One hundredth of a percentage point. Prices are quoted in bps of face value: 10,000 bps is 100% of face, `9650` is 96.50%. API fields end in `_bps`.
Paise	All money on the API is integer paise, in fields ending `_paise`. `100000000` is ₹10,00,000. See Money and price.
SRR, Scrip Reference Rate	ScripX’s published benchmark price for scrips, by scheme and expiry band, every trading day. Public, no key: `GET /public/rates`.
Firm quote	A binding price for an exact scrip or requirement, holding until a stated `valid_until`. Distinct from an indicative price, which is a view rather than something you can transact at. See `POST /v1/quote`.
Price floor / ceiling	A structural limit on an order. `min_pct_bps` is the seller’s floor, below which a fill cannot happen; the buy side carries the mirror ceiling.
Residual	The part of a buy requirement that whole scrips could not cover, because scrips transfer whole and are never split. API field `residual_paise`.
Provenance screening	Verification before a credit is listed: the shipping-bill chain it derives from, the seller’s IEC history, KYC on the selling firm, and the credit’s live status in the customs ledger. A credit showing `sellable: true` has passed.
Cross deal	A pre-negotiated block trade or intra-group transfer booked inside a desk’s own book at prices the desk sets, rather than against the open market. See the cross desk.
Group netting	Squaring a group’s companies’ net positions with the minimal set of internal transfers, so only the true group-level residual reaches the market. See `POST /v1/group/net-plan`.

Settlement

Term	Meaning
Delivery versus payment (DvP)	Settlement where title and money move together, or neither moves. Buyer funds lock before the scrip transfers, and the seller payout fires on confirmation of the transfer. Removes the question of who goes first.
T+0	Same business day settlement. On ScripX the seller payout fires on confirmation of the transfer, in minutes, on the same business day.
UTR	Unique Transaction Reference, the bank reference on a completed payout and the proof that money moved. Carried through to the audit export.
IMPS	Immediate Payment Service, the interbank rails used for seller payouts, which is what makes a same-day payout possible.
Utilisation	Applying a scrip against duty payable on a Bill of Entry. Each utilisation reduces the balance; a scrip ends at zero balance or at expiry.
Validity / expiry	The window in which a scrip can be used or transferred, running one year from creation in the ledger and unaffected by transfer. API field `expiry_date`. See Validity and expiry.

API terms

Term	Meaning
`X-ScripX-Key`	The header carrying the API key on every authenticated request. `scripx_live_…` is production, `scripx_test_…` is sandbox. See Authentication.
Idempotency key	The `Idempotency-Key` header on an order, which makes a retry safe: re-sending the same key returns the original order rather than creating a second one. See Idempotency.
Child key	A scoped API key minted under a parent key, typically one per client service, for clean attribution, per-key limits and instant revocation. See Create an API key.
Webhook	A signed HTTP delivery of an event such as `order.matched`, `settlement.settled` or `payout.sent`. Verify the `X-ScripX-Signature`, then re-read the resource for authoritative state. See Webhooks.
Audit export	A tamper-evident, hash-chained export of a desk’s event log, verifiable offline. See `GET /v1/audit/export`.

Scrip validity and expiry Exporter: sell a scrip for cash

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