In order to lay emphasis on export of services, under the Foreign Trade Policy-2015-20, Service Exports from India Scheme (SEIS) has been announced by the Government. SEIS provides for rewards to all service providers to notified services, who are providing services from India, regardless of the constitution or profile of the service provider, The rates of reward are 3%, 5% or 7% of net foreign Exchange Earning.
Objective Of the Scheme
Objective of Service Exports from India Scheme (SEIS) is to encourage export of notified Services from India. The rewards under the scheme are admissible on exports of notified services rendered on or after 01.04.2015.
Salient Features of The Scheme
- Apply to “Service Providers located in India” instead of Indian Service Providers.
- Provides for rewards to Service providers of notified services, who are providing exporting services from India, regardless of the constitution or profile of the service provider.
- Rewards under SEIS are based on net foreign exchange earned. (Net foreign Exchange = Gross earning of foreign exchange-total expenses/payment/remittances relating to services sector in the F/Y.)
- Reward issued as duty credit scrip is freely transferable and usable for all types of goods.
- Scrip can be used for payment of (i) Customs Duties for import of inputs or goods, except items listed in Appendix 3A; (ii) Payment of excise duties on domestic procurement of inputs or goods, including capital goods (iii) Payment of service tax on procurement of services and (iv) payment of Customs Duty and fee (in case of bona fide default under authorization)
- The SEIS scheme was available for services rendered in FY 2019-20 after which the SEIS scheme is yet to be announced.
How We Assist
We may assist you:-
- To Identify and check eligibility to get the benefits under the scheme.
- In documentation, preparation of application, On line filing of application and Coordination with Concerned Authority to get the Duty credit scrip.
- Realization of value of the scrip in cash or assistance in utilization of the scrip for payment of Customs Duty /Excise duty as the case may be.