Services Exports from India Scheme ( SEIS)


Ajit Kumar AJIT KUMARWISDOM IAS, New Delhi.

The Services Exports from India Scheme ( SEIS) has been introduced as per Foreign Trade Policy of India 2015-2020 from 1stof April 2015 to 31st of March, 2020. The SEIS also Served under Foreign Trade Policy 2009-14.
The SEIS is to encourage export of notified services from India. The motto of the scheme is to provide rewards to exporters to offset infrastructural inefficiencies and associated costs involved and to provide exporters a level playing field. Also in order to give boost to exports from SEZ, the FTP has extended the reward scheme to units located in SEZs.
In order to lay emphasis on export of services, the Served from India Scheme (SFIS) is replaced by Service Exports from India Scheme (SEIS) .The intention is to provide benefits to all service providers located in India, instead of Indian Service Providers. Earlier, under SFIS the benefit was not available for foreign brand of the Indian companies.
The rate of SEIS scheme under Foreign Trade Policy 2015-20 is based on net foreign exchange earned on services. The reward issued as duty credit scrip, would no longer be with actual user condition and will no longer be restricted to usage for specified types of goods but be freely transferable and usable for all types of goods and services tax 3 debits on procurement of services / goods. Debits would be eligible for CENVAT credit or drawback.   
Free Foreign Exchange earned through international credit cards and other instruments, as permitted by RBI shall also be taken into account for computation of value of exports under SEIS.
As per Foreign Trade Policy 2015-20, SEIS is eligible to units of SEZs, Special Economic Zones.

Thursday, 17th Dec 2015, 02:49:10 AM

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