Context
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Under the Service Exports from India Scheme, the government recently notified the benefits to be given for exports undertaken in 2019-20, but capped entitlements at ₹5 crore per exporter
About Service Exports from India Scheme (SEIS)
- Service Exports from India Scheme (SEIS) aims to promote export of services from India by providing duty scrip credit for eligible exports.
Credit: IndiaMart - Under the scheme, service providers, located in India, would be rewarded under the SEIS scheme, for all eligible export of services from India.
- SEIS was earlier termed as Served from India Scheme (SFIS).
Eligibility
- 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 USD 15000 in the preceding financial year to be eligible for duty credit scrips.
- For proprietorships or individual service providers, 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.
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