SEIS Benefits on your Foreign Exchange Earnings under FTP 2015 - 2021 - Benefits for Service Exporters and Product Exporters

SEIS Benefits on your Foreign Exchange Earnings under FTP 2015 - 2021 - Benefits for Service Exporters and Product Exporters

What is SEIS ?

Service providers of eligible services shall be entitled to duty credit scrip at notified rates on the net foreign exchange earned. Duty credit scrips can be used for the payment of custom duties, excise duties, service tax on procurement of services, custom duty in case of default in fulfillments of export obligation under Advance Authorization/EPCG, etc.,

 Further, the SEIS scheme has given relaxation to the actual user condition and duty credit scrips and goods imported using duty credit scrips are freely transferable. Duty credit scrip would be valid for a period of 18 months from the date of issue

As per new FTP announced on 1st April’ 15; you shall be eligible for benefits under the SEIS Scheme against the Services earned in Foreign Exchange/ Deemed Foreign Exchange.

Who are All Eligible for Claiming the Benefits ?

For Company / LLP

Service Providers of notified services, located in India are eligible for the Service Exports from India Scheme. To be eligible, a service provider (Company / LLP / Partnership Firm) should have a minimum net free foreign exchange earnings of USD15000 in the preceding financial year to be eligible for duty credit scrips.

For Partnership & Individual Service Providers

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 for the scheme. Also, in order to claim reward under the SEIS scheme, the service provider shall have to have an active Import Export Code (IE Code) at the time of rendering such services for which rewards are claimed.

Eligible Service Providers for SEIS Scheme

1	Professional Services
2	Research and Development Services
3	Rental/Leasing Services without Operators
4	Audiovisual Services
5	Construction and Related Engineering Services
6	Educational Services
7	Environmental Service
8	Health and Social Services
9	Tourism and Travel Services
10	Recreational, Cultural and Sporting Services
11	Other Business Services

What Service we are Providing ?

We do apply and get the Issuance of SEIS Scrip from the Government/ DGFT in your favour as per the prescribed guidelines of the FTP.

The scrips, if preferred so, may be transferred/sold to anybody in advance at best rate, which will be paid immediately against delivery of Scrip along with Transfer Letter duly attested by your Bankers and the Sale Invoice.

We do charge our commission for processing and preparing the Application for SEIS Scrip only after issuance of the same in your favour; except your direct payment of Governmental fee for it, as per Policy.