SEIS
What is Service Exports from India Scheme (SEIS) Scheme
Under the framework of the SEIS Scheme, under implementation since 01.04.2015, service exporters for eligible service categories, are granted benefits in the nature of transferable Duty Credit Scrips as a percentage of Net Foreign Exchange earned on export of the eligible services in a financial year. The Duty Credit Scrips can be used Payment of Basic Customs Duty and certain other duties as listed in para 3.02 of FTP 2015-20
Pre-Requisites for Applying for SEIS Scheme
All eligibility criteria are outlined in FTP and HBP
Should have an active IEC at the time of rendering services
Should have certain minimum earnings
Should have exported eligible services as notified in Appendix 3D/3E/3X (Appendix 3X will be applicable on claim for FY 2019-20 and Appendix 3D/3E will be applicable for other year claim)
Does not fall under ineligible categories as in Public notice 45 dated 05.12.2017
Services provided under Modes 1 and 2 only are allowed for claim for eligible services
Negative Net Foreign Exchange earnings (NFE) makes the entitlement under zero for the financial year
Definition
SEIS was introduced to encourage export of notified services from India, such as IT, accounting, medical, legal, architecture, and educational services. It rewarded eligible service providers with duty credit scrips based on their net foreign exchange earnings. The scheme is currently under review and not active in the latest Foreign Trade Policy.
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