Service Exports from India Scheme
(SEIS) Scheme
To encourage foreign trade and export in India the Ministry of Commerce through the Directorate General of Foreign Trade (DGFT) is offering incentive under Service Exporters from India. The scheme aims to promote export services from India. The incentive is offered in from of Duty Credit Scrips.
There are four categories offering services to foreign clients:
Category 1: Cross Border Trade- includes supply of services from India to abroad.
Category 2: Consumption Abroad- Supply of services from India to any other country currently in operational in India.
Category 3: Commercial Presence- Supply of services from India through commercial presence in any other country.
Category 4: Presence of natural person of one country providing their service in the territory of another.
Important updates regarding the scheme:
- SEIS Scheme Extension – There is no information/clarity from the Government till date regarding the extension of the SEIS Scheme for FY 2020-21 and beyond. Also, the SEIS Scheme rates for FY 2019-20 have not been notified yet.
- Notification No. 57 dated 31.03.2020 –
As per the Notification, the SEIS Scheme is continued for FY 2019-20 with revised rates. Rates will be notified in Appendix 3X. DGFT will take a decision on the continuity of the scheme for FY 2020-21 in due course. - Public Notice No. 06/2015-20 dated 07.05.2019 –
As per the Public notice, Some Amendment has made in the Application form ANF 3B for claiming SEIS benefits under the FTP 2015-20 - The last date for filing annual claims under SEIS is 12 months from the end of relevant financial year of the claim period, which is expiring for 2018-19 claims on 31st March, 2020, has been extended to 31st December, 2020.
For more information regarding benefits under SEIS scheme you can get in touch with us at adveta.surve@sraindia.co.in or office@sraindia.co.in