SEIS
Description:
As a part of Foreign Trade Policy 2015-20, the Government of India introduced Service Exports from India Scheme (SEIS) replacing other old schemes. This scheme is focused towards providing incentives to the service providers exporting their services to foreign countries.
SEIS Objective:
Service Exports from India Scheme (SEIS) aims to promote export of services from India by providing duty scrip credit for eligible exports.
Eligibility:
Service Providers (Company / LLP / Partnership Firm) offering notified services are eligible for this scheme. To be eligible, a service provider should have a net free foreign exchange earnings of USD15000 in the preceding financial year to get duty credit scripts. For proprietorships or individual service providers, a minimum net foreign exchange earnings of USD10,000 in the preceding financial year is required to be eligible.
Benefit:
Service providers exporting their services and earning foreign exchange shall be entitled to a duty credit scrip at notified rates on the net foreign exchange earned. These duty credit scrips can be used for the payment of excise duties, custom duties, service tax on procurement of services, etc. Duty Credit Scrips shall be valid for a period of 18 months from the date of issue.
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Recent Posts
- DGFT amends policy condition under ITC (HS) code for Potatoes
- CPCB extends date to file Annual Returns for EPR Plastic
- DGFT modifies SION E-125 consisting export of SHEA STEARINE
- DGFT amends the Jewellery SION Norms under the HBP, 2023
- DGFT restricts imports of all Electronic and IT Goods
- CPCB changes validity of EPR Certificate from “One Year” to “One Time Registration”
- DGFT amends list of Ministries/Departments under Appendix 2Y of FTP, 2023
- Central Govt. permits export of Non-Basmati White Rice through NCEL
FEATURED ARTICLES
DGFT amends policy condition under ITC (HS) code for Potatoes The Central Government makes amendment in the Policy Condition for…
DGFT modifies SION E-125 consisting export of SHEA STEARINE Standard Input Output Norm (SION) E-125 for the export of Shea…
DGFT amends the Jewellery SION Norms under the HBP, 2023 The Director General of Foreign Trade makes the following amendments:…
DGFT restricts imports of all Electronic and IT Goods Central Government notifies the amendment in Para 2.31 of the Foreign…