SEIS

The Service Export from India Scheme (SEIS) is a scheme implemented by the Indian government to encourage the export of services from India. The SEIS provides incentives to service providers who have exported services from India. Here's a detailed information about the SEIS scheme:

1. Eligibility:

• All service providers located in India who have provided services in the notified mode of supply are eligible for SEIS.

• Only services that are rendered from India to a foreign country are eligible for the SEIS scheme.

• The service provider should have a minimum net foreign exchange earning of Rs. 15 lakhs in the preceding financial year.

2. Benefit:

• The SEIS scheme provides incentives in the form of Duty Credit Scrips (DCS) to the eligible service providers.

• Duty Credit Scrips can be used for payment of customs duty for the import of goods or can be sold to other importers for obtaining foreign currency.

3. Claiming SEIS benefits:

• The service provider needs to apply for the SEIS scheme within a period of 12 months from the end of the financial year in which the foreign exchange was earned.

• The application should be submitted in the prescribed format to the Directorate General of Foreign Trade (DGFT).

• The service provider needs to submit details of all the foreign exchange earned from the export of services during the financial year.

• The DGFT will scrutinize the application and issue the Duty Credit Scrips to the eligible service provider.

4. Modes of Supply:

• The SEIS scheme is applicable to services provided in the following modes of supply:

  • Cross-border trade: Services supplied from India to a foreign country.

  • Consumption abroad: Services supplied in India to a person located outside India.

  • Presence of natural persons: Supply of services through the presence of natural persons in a foreign country.

  • Commercial presence: Supply of services through commercial presence in a foreign country.

5. Validity and Utilization:

• The Duty Credit Scrips issued under SEIS are valid for a period of 24 months from the date of issue.

• The Duty Credit Scrips can be used for payment of customs duty for the import of goods or can be sold to other importers for obtaining foreign currency.

In conclusion, the SEIS scheme is a beneficial scheme for service providers who have exported services from India. The scheme provides incentives in the form of Duty Credit Scrips, which can be used for payment of customs duty or can be sold for obtaining foreign currency. Service providers should ensure timely application for the SEIS scheme to avail its benefits.